Latest on Oil

Oil prices were steady, under pressure from potential production increases in Libya where operations have restarted at two key oil fields.

Petróleo Brasileiro Signs Financing Deal with China Development Bank

Brazil's state-controlled oil company Petróleo Brasileiro signed a $5 billion financing deal with the China Development Bank, the latest example of a troubled Latin American issuer reaching to Chinese institutions for help.

Royal Dutch Shell CFO Steps Down

Royal Dutch Shell said Simon Henry will step down as chief financial officer next year after he steered the Anglo-Dutch oil major through the acquisition of BG Group and a tumultuous period of low oil prices.

In Oil Face-Off, Saudis, Shale Both Claim Victory

A two-year battle for global oil supremacy that pit Saudi Arabia, head of the powerful oil cartel, against upstart U.S. shale producers left them both badly wounded but with each side claiming victory.

EDF's 2017 Profit Warning Sends Shares Lower

Electricite de France SA shares tanked Thursday after the French power utility warned its profitability in 2017 would be much lower than 2016 as a result of falling electricity prices.

U.S. Judge Approves Abengoa Debt-Restructuring Plan

A U.S. bankruptcy judge has approved the chapter 11 plan for the U.S. arm of Spain's Abengoa, a key element in the renewable-energy company's multibillion-dollar debt restructuring.

Chesapeake Energy Drills Deeper for Profit

Natural-gas giant Chesapeake Energy is drilling 'supersize' wells that run for miles underground, hoping to produce more fossil fuels for less cost and turn its fortunes around in an era of low oil prices.

Iraq Is Raising, Not Cutting, Oil Exports, Shipping Document Shows

Iraq plans to increase crude-oil exports in January, government records show, immediately raising questions about its commitment to slashing production in line with OPEC's landmark production agreement last month.

Statoil Exits Production in Canadian Oil Sands

Norway's state-owned oil giant Statoil ASA said Wednesday it is exiting its business in the Canadian oil sands, selling off its assets to Athabasca Oil Corp. and taking a loss of at least $500 million.

Exxon Mobil Taps Darren Woods to Replace Tillerson as CEO

Exxon Mobil said Darren Woods will succeed Rex Tillerson as chairman and chief executive of the company, after Mr. Tillerson was tapped by President-elect Donald Trump to serve as the next U.S. Secretary of State.

Exxon Faces Dilemma on Rex Tillerson's Pay

Exxon Mobil's board faces a difficult decision over how to make a financial break with Chief Executive Rex Tillerson, who will step down aschief executive at year's end now that Donald Trump has chosen him as secretary of state.

(END) Dow Jones Newswires

December 16, 2016 11:15 ET (16:15 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.