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News Highlights : Top Energy News of the Day

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10/10/2019 | 12:16am EDT
PG&E's Bankruptcy Judge Opens the Door to Rival Chapter 11 Exit Plan 
 

The decision clears the way for a rival chapter 11 plan from Elliott Management and other bondholders that are allied with victims of wildfires that drove PG&E to bankruptcy.

 
Andreessen Horowitz Leads $300 Million Investment in RigUp 
 

RigUp, which operates a marketplace for contract workers in the energy sector, surged to a $1.9 billion valuation with a new infusion of capital, according to a person familiar with the situation.

 
Oil Ends Little Changed as Oversupply Worries Linger 
 

Oil prices closed little changed, erasing an earlier rally as traders awaited U.S.-China trade talks and weighed a mixed inventory report.

 
Power Outage in California Affects Millions as PG&E Tries to Avoid Wildfire 
 

PG&E began cutting power to about 700,000 households and businesses across California in an unprecedented move to lower the threat of wildfires in the face of the kind of windstorm that previously fueled deadly infernos and propelled the utility into bankruptcy court.

 
Analysts Expect 94 Bln Cubic-Foot Rise in U.S. Natural-Gas Inventories 
 

U.S. government natural-gas data are expected to show inventories increased last week by 94 billion cubic feet -- an amount higher than normal for this time of year due to record-high production.

 
Saudi Aramco May Restore Capacity Earlier Than Planned 
 

Saudi Arabian Oil may restore its production capacity earlier than planned following the attacks last month on one of its oil facilities, and its chief executive insisted plans to list the company had not been affected.

 
U.S. Crude Oil Inventories Rise More Than Expected 
 

Crude-oil stockpiles rose by 2.9 million barrels to 425.6 million barrels, and remain right at the five-year average for this time of year, the EIA said. Analysts shad predicted crude stockpiles would rise by 1.5 million barrels.

 
EDF Raises Flamanville Costs Estimate 
 

EDF has adjusted the schedule for repairs at the Flamanville nuclear power plant and said costs will increase by EUR1.5 billion.

 
Energy & Utilities Roundup: Market Talk 
 

The latest Market Talks covering Energy and Utilities.

 
Brazilian Oil Slicks Likely Originated in Venezuela, Official Says 
 

Brazilian Environment Minister Ricardo Salles said the crude oil staining long stretches of Brazil's northeastern coast "very probably" came from Venezuela, an assertion that could lead to even worse relations between the already hostile neighbors.

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