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News Highlights: Top Energy News of the Day

09/25/2020 | 07:16am EST
Oil Ticks Up At End of Otherwise Dismal Week 
 

Oil managed to hold on to modest gains in Europe but prices are on course to close out the week with losses of around 5% thanks in part to a souring demand outlook driven by rising coronavirus cases.

 
Noble Settles Multibillion-Dollar Suit Over Paragon Spinoff 
 

The London-based operator of offshore oil-and-gas drilling rigs has settled multibillion-dollar litigation over its 2014 spinoff of Paragon Offshore, a critical step in Noble's path to exiting bankruptcy.

 
California to Ban Sales of New Gas-Powered Cars Starting in 2035 
 

Gov. Gavin Newsom signed an order that aims to end the sale of new gasoline and diesel-powered passenger cars in the state by 2035.

 
Peak Oil Is Already Shifting Markets 
 

The prospect of falling demand for crude oil could unleash a long-term scramble between rival producer nations.

 
Fracker Extraction Oil Greased the Political Skids in Colorado 
 

In the two years before it went bankrupt in June, Extraction Oil & Gas funneled more than $10 million into political donations, most of it aimed at quashing a movement that threatened its business of forcing oil and gas out of the Colorado bedrock.

 
Fracking-Services Company FTS International Files for Bankruptcy 
 

Texas-based FTS International filed for bankruptcy protection after reaching an agreement with creditors on a debt-for-equity swap following a downturn in the energy sector and lower demand for its services.

 
Hot Oil Field Was Desperate for Pipelines. Now It Has Too Many. 
 

The Southwest's Permian Basin has become a headache for pipeline operators with the pandemic damping oil demand after they had added capacity.

 
Oil Market Flies Blind as Virus Clouds Demand Outlook 
 

Predicting oil demand has rarely been more challenging. Energy analysts are mapping out the course of the coronavirus and efforts to stop the pandemic, as well as grappling with the effects on fuel demand of an economic downturn.

 
Musk Promises $25,000 Tesla Using Cheaper Batteries 
 

The company has an eventual annual production target of 20 million vehicles, potentially becoming the world's largest auto maker.

 
U.S. Oil-Rig Count Falls by 1 in Latest Week, Baker Hughes Says 
 

The number of rigs drilling for oil in the U.S. fell by one in the past week to 179, according to oil-field services company Baker Hughes.

 
 

Stocks mentioned in the article
ChangeLast1st jan.
BAKER HUGHES COMPANY 1.48% 19.545 Delayed Quote.-23.86%
FTS INTERNATIONAL, INC. 0.43% 18.73 Delayed Quote.-11.06%
LONDON BRENT OIL 1.38% 47.98 Delayed Quote.-27.74%
TESLA, INC. -2.95% 561.5163 Delayed Quote.578.33%
WTI 2.04% 45.125 Delayed Quote.-26.33%
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