News
Market Currents: More signs of rising OPEC output
Crude is easing lower on this last day of February, as other sources are endorsing what we said last week – that OPEC production and exports are on the rise. As gasoline weakness leads the complex...
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NRG cuts losses, but depressed power prices weigh on revenue
Houston-based NRG Energy narrowed its losses in 2016, but low natural gas and power prices pushed down revenue. On Tuesday, the company reported a fourth-quarter loss of $1.1 billion, compared with a loss of $6.4 billion...
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Cheniere Energy turns first quarterly profit with LNG exports
Exporting liquefied natural gas is officially profitable for the first time, Houston’s Cheniere Energy reported Tuesday. After becoming the first U.S. company to begin exporting LNG early last year, Cheniere on Tuesday reported its first...
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Mixed verdict in National Oilwell Varco, M-I Swaco noncompete case
A Harris County jury on Monday delivered a mixed verdict in a contentious fight between two Houston energy services companies over trade secrets, confidentiality and a noncompete agreement. The case, which has stretched...
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Shell backs away from new oil sands development
Royal Dutch Shell Plc is unlikely to take on new oil-sands projects as it maintains a grip on costs after crude’s crash forced competitors to write down Canadian reserves. While Shell’s existing oil-sands operations generate...
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