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News Highlights : Top Energy News of the Day

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06/10/2019 | 12:16am EDT
PG&E Can Pull Out of Green-Power Contracts 

A court ruling allows the California utility to shed billions in wind and solar deals, threatening scores of electricity suppliers.

Oil Extends Gains as Oversupply Fears Ease 

Oil prices rallied for the second consecutive session, rebounding after entering a bear market earlier in the week as analysts monitored the latest signals on U.S.-Mexico trade policy and bets on lower interest rates.

Anadarko CEO to Get $98 Million Payout in Occidental Deal 

Anadarko Chief Executive Al Walker is set to receive a $98 million payout on completion of the company's $38 billion sale to Occidental Petroleum.

U.S. Oil Rig Count Falls to 789 -- Baker Hughes 

The number of rigs drilling for oil in the U.S. fell by 11 in the past week to 789, its lowest level since February 2018, according to oil-field services company Baker Hughes.

U.S. Sanctions Iranian Petrochemical Company 

The U.S. sanctioned one of Iran's biggest petrochemical companies, hitting a top revenue earner as the Trump administration attempts to strong-arm Tehran into a new nuclear and security pact.

Frackers Scrounge for Cash as Wall Street Closes Doors 

The companies behind the U.S. fracking boom are turning to asset sales, drilling partnerships and other alternative financing to supplement their cash flow.

Mammoth Energy Stands By Its Work in Puerto Rico Following Investigation 

Mammoth Energy said it is standing by the work that one of its subsidiaries did in Puerto Rico after hurricane damage. U.S. government authorities are looking into the company's dominance in bringing power back to the island.

U.A.E. Stops Short of Directly Blaming Iran in Ship Attacks 

The United Arab Emirates said special forces from a hostile nation likely carried out coordinated attacks last month on four ships near the Strait of Hormuz, but stopped short of directly accusing Iran.

Energy & Utilities Roundup: Market Talk 

The latest Market Talks covering Energy and Utilities

Fitch Cuts Mexico's Pemex to Below Investment Grade 

The reduction to BB+ from BBB- followed Fitch's downgrade of Mexico's sovereign credit rating to BBB from BBB+.

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