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News Highlights : Top Energy News of the Day

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10/23/2019 | 04:16am EDT
Exxon Misled Investors Over Climate Change, N.Y. Court Told 
 

The New York attorney general's office said Exxon's climate-change misrepresentations caused investors to overvalue its stock. The company has denied wrongdoing.

 
Oil Rises On Chatter of Deeper OPEC Cuts 
 

U.S. oil prices ended the session 1.6% higher, fueled in part by a Reuters report reconfirming that OPEC officials said they would consider making deeper cuts to production rates at their December meeting.

 
U.S. Crude-Oil Stockpiles Likely to Rise in DOE Data, Analysts Say 
 

U.S. crude-oil stocks are expected to increase in data due Wednesday from the Energy Department, according to a survey of analysts and traders by The Wall Street Journal.

 
Energy & Utilities Roundup: Market Talk 
 

The latest Market Talks covering Energy and Utilities

 
PG&E Warns of Potential Second Planned Blackout 
 

Californians are facing a potential second round of pre-emptive power outages, with the state's largest utility working to prevent its equipment from sparking wildfires. Hot, gusty winds are forecast later this week.

 
Trump Calls for Defense, Use of Syrian Oil Fields 
 

President Trump said he is planning to keep a small number of troops in northeast Syria to protect the oil fields there and suggested that an American company might help the Syrian Kurds develop the oil for export.

 
McDermott Bonds Jump, Then Fall on Dueling Disclosures 
 

McDermott International, an oil-and-gas engineering company whose bonds have been trading at distressed prices, took investors on a wild ride after it said it had secured financing and then disclosed a revision to projected earnings.

 
Halliburton Posts Weaker Earnings 
 

The oil-field services company posted weaker quarterly earnings Monday as revenue in the company's North America business slumped, but cost cuts and a better-than-expected outlook pushed shares higher.

 
Venezuela Can Afford Payment to Keep Control of Citgo, Creditor Lawyer Says 
 

Venezuela can afford to make a payment to bondholders next week, avoiding a $913 million debt default that would cost the country control of Citgo Petroleum Corp., according to a lawyer for creditors circling the Houston-based refiner.

 
Exxon's Climate-Change Accounting Goes on Trial 
 

The trial, which begins Tuesday in state court in Manhattan, is the culmination of a sprawling investigation that spanned four years and three New York attorneys general.

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