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News Highlights : Top Energy News of the Day

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05/24/2019 | 04:16am EDT
PG&E Clings to Sole Control of Its Bankruptcy Through September 

PG&E will stay in control of its bankruptcy proceeding until Sept. 29, less time than it wanted, but long enough to find out what California lawmakers will do this year about wildfire liabilities facing the state's largest utility.

Elk Petroleum Files for Bankruptcy Protection 

Elk Petroleum, an oil and gas producer operating in the Rocky Mountains, filed for bankruptcy with a deal already arranged to give most of the equity in the reorganized business to secured lenders that include Riverstone Credit Partners.

Societe Generale Further Reduces Ties With Coal 

Societe Generale is further limiting its ties to the coal industry, as the French bank works toward aligning its activities with the Paris Agreement on climate change.

Oil Prices Post Sharpest Nosedive of 2019 

Oil futures had their biggest percentage drop of 2019 and closed at a two-and-a-half-month low, amid building U.S. inventories and continuing concerns about global trade.

Natural Gas Gains On Smaller-Than-Expected Rise in Inventories 

Natural gas prices rose Thursday after government data showed that inventories increased last week by less than analysts had expected.

Microsoft Buys Wind Energy for Data Centers in Netherlands 

Microsoft has agreed to purchase wind power from Netherlands-based Eneco to supply clean energy to its data centers in Holland for 15 years starting in 2022.

Energy & Utilities Roundup: Market Talk 

The latest Market Talks covering Energy and Utilities

GE to Revisit Financial-Services Unit After Fixing Power Division 

Larry Culp, General Electric's chief executive, plans to set his sights on the company's problematic financial-services business after he cuts overall debt and stabilizes its power-generation division.

Oil-Rich Saudi Arabia Barrels Into the Gas Business 

Saudi Arabia's deal to buy American natural gas is part of a decadelong $160 billion plan to build up its gas assets, as the oil-rich kingdom's demand for new energy is projected to soar beyond its capacity.

Russian Pipeline Shutdown Shifts Balance in Oil Market 

The shutdown of a major Russian pipeline that sends crude to European refineries has fueled concerns of tightness in the global oil market, driving futures prices higher.

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