Latest on Oil

Crude prices made further strides in early Asia trade Wednesday on bullish data that showed a bigger-than-expected drop in U.S. crude stockpiles, reinforcing views that the global oil market is tightening.

Obama Administration to Block Some Offshore Drilling

The Obama administration announced plans to indefinitely block oil and natural-gas drilling in parts of the Atlantic and Arctic oceans, part of last-minute actions seeking to lock in the departing president's environmental legacy.

Libya National Oil Co. Says Pipelines Reopened in the Country's West

Libya's National Oil Company said Tuesday long shuttered pipelines had reopened in the country's west that could supply 270,000 barrels a day of crude oil in the next three months-almost half its current output.

Energy Future Holdings, Senior Lenders Settle $800 Million Fight

Energy Future Holdings reached a deal with senior lenders that bested the Dallas power giant in an $800 million court fight over the premium due for early payoff of debt in a bankruptcy refinancing.

Murphy Energy Approved to Sell Natural-Gas Terminals

A judge approved the $33.1 million sale of natural-gas transporter Murphy Energy's Port Hudson terminal in Louisiana, which was auctioned along with several other terminals as part of the company's bankruptcy.

Dakota Plains Holdings Seeks Chapter 11 Protection

Crude oil transportation and storage company Dakota Plains Holdings Inc. filed for chapter 11 bankruptcy Tuesday.

Maxus Energy to File Two-Path Chapter 11 Exit Plan

Pressured by creditors, Maxus Energy has agreed to file a chapter 11 exit plan soon, but there is no decision yet on a path forward for a bankruptcy driven by the need to clean up New Jersey's contaminated Passaic River.

Regulators Rap Firms Using Severance to Silence Whistleblowers

U.S. securities regulators have twice this week penalized firms for allegedly trying to silence whistleblowers, escalating a crackdown on severance arrangements seen as discouraging employees from reporting wrongdoing.

BP Eyes Growth with String of Oil, Gas Deals

BP PLC has pulled off a string of deals in recent weeks that signal the British oil giant is looking to grow again after six years of retrenchment following the deadly Deepwater Horizon disaster.

As the Oil-Sands Industry Declines, Its Biggest Champion Bolts

The gravity of the challenges facing Canada's oil-sands industry has been hammered home by the absence of Canadian Natural Resources Chairman N. Murray Edwards, who has acted as a sector standard-bearer for more than a decade.

Rule Tightens Restrictions on Coal Mining Near Streams

The Interior Department on Monday issued a rule putting tighter restrictions on coal mining near streams, one of several environmental rules President-elect Donald Trump .

(END) Dow Jones Newswires

December 21, 2016 04:15 ET (09:15 GMT)

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