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News Highlights : Top Energy News of the Day

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07/22/2019 | 04:16am EDT
Iran Pairs Diplomacy With Military Pushback as Gulf Tensions Soar 

Ships plying the Strait of Hormuz are getting caught in the middle as Iran pushes back against U.S. sanctions and maneuvers around a more muscular American regional presence, raising the risk of direct military confrontation.

Papua New Guinea Won't Offer Any Special Deals to Chinese Investors 

Papua New Guinea's new prime minister also said reports that his government will seek a larger return on resource investment royalties were overblown.

Iran Seizes British-Flagged Oil Tanker 

Iranian forces seized a British-flagged oil tanker in the Strait of Hormuz, as mounting tensions between Tehran and the West risked further disruption of commercial shipping in the strategically vital waterway.

Oil Posts Worst Week Since May 

Oil prices edged higher Friday but still logged their worst week since May, the latest turn lower for crude in 2019 as fears of excess supply buffet prices.

PG&E Comes Out Against Elliott's $30 Billion Restructuring Pitch 

PG&E's lawyers argued in court papers Thursday that the bondholders' chapter 11 proposal can't be confirmed because it gives them a vote and a voice in the bankruptcy proceeding they don't deserve.

U.S. Oil-Rig Count Falls to 779 in Latest Week 

The number of rigs drilling for oil in the U.S. fell by five in the past week to 779, according to oil-field services company Baker Hughes.

Schlumberger Elevates Le Peuch to CEO 

Schlumberger said Paal Kibsgaard will retire as chairman and chief executive, effective Aug. 1. The company said Olivier Le Peuch, currently chief operating officer, will succeed Kibsgaard as CEO and join the board on that date.

Carl Icahn Takes Steps to Replace Four Occidental Petroleum Directors 

The billionaire investor says the energy company's board mismanaged its deal to acquire rival Anadarko Petroleum.

As Heat Wave Strikes, Even Low Temperatures Forecast to Hit Records 

A heat wave across a large swath of the U.S. is expected to bring something potentially worse than record temperatures: record-high low temperatures.

Blackjewel Nets $3 Million Bridge Financing to Avoid Liquidation 

Coal-mining company Blackjewel LLC found $3 million in emergency bridge financing to honor payroll obligations that the troubled business fell behind on after filing for bankruptcy protection.

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