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News Highlights : Top Energy News of the Day

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12/11/2019 | 12:16am EST
Chevron, Facing Fossil Fuels Glut, Takes $10 Billion Charge 
 

The move is a concession that in an age of oil and gas overabundance, some energy assets will not be profitable anytime soon.

 
Saudi Aramco Sounds Out Investors on Asia IPO 
 

Saudi Arabia still hopes to attract the foreign capital it failed to draw with its record-breaking domestic IPO.

 
PG&E Judge Floats Offer to Postpone Ruling on Insurance Deal 
 

The judge overseeing PG&E Corp.'s bankruptcy has offered to postpone a ruling on an $11 billion settlement with insurance companies and big investors, as the company tries to win support from California Gov. Gavin Newsom on its strategy to get out of chapter 11.

 
U.S. Crude-Oil Stockpiles Seen Down in Week 
 

Government data are expected to show that U.S. crude-oil stockpiles decreased by 2.8 million barrels in the latest week, while gasoline inventories are expected to have climbed 2.4 million barrels, analysts say.

 
Exxon Is Cleared in Climate-Change Accounting Case 
 

A New York state judge cleared Exxon Mobil of claims it had deceived investors about how it accounted for the cost of future climate-change regulation.

 
Oil Gains on Report of Upbeat China Trade Talks 
 

Oil futures finished higher Tuesday, recovering from early losses, after a report from the Wall Street Journal was seen as upbeat in long-running negotiations between the U.S. and China on tariffs.

 
Trade Clarity Could Give Commodities Needed Boost 
 

Commodity investors are closely watching trade developments between the U.S. and China, hoping that a resolution to their trade war will relieve pressure on a host of materials.

 
Energy & Utilities Roundup: Market Talk 
 

The latest Market Talks covering Energy and Utilities.

 
PG&E Charges to Swell to $25 Billion After Wildfire Settlement 
 

PG&E expects to take a fourth-quarter charge of $4.9 billion in connection with a new $13.5 billion deal to settle claims from wildfire victims, the company disclosed in a securities filing.

 
Nuclear Power, a Low-Carbon Energy Source, Is Shunned by the West 
 

As countries and companies push to counter climate change, nuclear-power firms are struggling to survive. Some experts say nuclear power should play a larger role in any move away from fossil fuels.

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