Latest on Oil

Crude prices edged up in early Friday trade following reports that major producers have started cutting production as pledged, strengthening views the global oil glut was ebbing.

Anadarko to Sell South Texas Assets to Sanchez Energy and Blackstone

Anadarko Petroleum Corp. has agreed to sell its South Texas oil-and-gas assets to Sanchez Energy Corp. and Blackstone Group LP for $2.3 billion.

Canada's AltaGas in Talks to Combine With D.C. Utility WGL

Canada's AltaGas Ltd. is in talks to combine with WGL Holdings Inc. in a transaction that could value the parent of Washington, D.C.'s natural-gas utility at $5 billion to $6 billion, as increasing use of natural gas spurs merger activity.

Hess to Up Investment in Shale Oil, Will Take Hefty Charge

Hess Corp.said its capital and exploratory budget will grow by 18% in 2017 compared with last year as it dives deeper into the oil patch, following similar moves from other shale drillers that have made investors wary.

OPEC Takes Aim at Its Biggest Problem: Oil Storage

A big obstacle is emerging for the Organization of the Petroleum Exporting Countries' plan to raise oil prices with output cuts: vast global reserves of crude that threaten its power over markets.

Peabody Lenders Commit to $1.5 Billion Exit Loan

Peabody Energy has lined up a promise from lenders to arrange $1.5 billion in new financing to take it out of chapter 11 protection in the coming months.

Fiat Chrysler Used Emissions-Cheating Software, EPA Says

The Environmental Protection Agency has accused Fiat Chrysler of diesel-emissions violations, saying the auto maker allegedly used software on recent diesel-powered Jeep Grand Cherokee and Dodge Ram trucks.

Exxon Active in Sanctions Debates, but Rex Tillerson Denies Lobbying

Oil giant Exxon Mobil has a long history of advocacy and engagement around issues related to international sanctions, including membership in a Washington-based trade group that strongly opposes unilateral U.S. sanctions against foreign countries and entities.

Trans-Mountain Pipeline Clears Final Hurdle for Expansion

British Columbia said Kinder Morgan could proceed with plans to expand its Trans Mountain crude-oil pipeline, representing the final regulatory hurdle for the multibillion-dollar project.

U.S. Oil and Fuel Inventories Rise Sharply

U.S. crude oil inventories rose much more than expected for the week ended Jan. 6, as did stockpiles of gasoline and other processed fuels, according to data released Wednesday by the Energy Information Administration.

U.S. Indicts Six VW Executives in Emissions Scandal

A U.S. grand jury indicted six current and former executives of Volkswagen for their alleged part in the company's U.S. emissions fraud as the Justice Department's investigation shifts from bringing the German car maker to account to prosecuting individual executives.

(END) Dow Jones Newswires

January 13, 2017 04:15 ET (09:15 GMT)

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