Latest on Oil

Crude futures ticked higher Wednesday in Asia on optimism that declining production in over 20 major oil nations, including China, will reset the market into a shortage in the first half of the year.

Exxon Mobil Expands Permian Basin Footprint

Exxon Mobil is the latest company to expand in Texas' red-hot Permian basin, announcing a deal Tuesday to buy companies owned by the Bass family for $5.6 billion in stock and up to $1 billion in additional payments.

Elliott Pushes for Changes at NRG Energy

Hedge fund Elliott Associates LP said Tuesday that it has teamed with Bluescape Energy Partners LLC to buy a combined 9.4% stake in NRG Energy Inc. and pursue changes at the power company to boost its value.

Ultra Petroleum Settles Lawsuit Over Use of Gas PipelineUltra Petroleum has settled a $303 million lawsuit accusing the oil and gas explorer of missing payments owed for using a major U.S. natural gas pipeline in the months before seeking bankruptcy protection.

TVA Board Vacancies Raise Possibility of Coal Shift

President-elect Donald Trump is poised to bring in new leadership to the Tennessee Valley Authority, prompting concerns that the nation's largest public power company could be in for a strategy shift about its coal use.

China's Oil Output Set for Long-Term Slump

China's oil production has entered a long-term decline, the government acknowledged, signaling that the country will become increasingly dependent on imports.

Saudi Oil Minister Plays Down U.S. Oil Rebound Concerns

Saudi Arabia's oil minister Tuesday said U.S. oil production will take time to bounce back amid concerns resurgent prices driven by OPEC production cuts could benefit North American rivals.

Noble Energy to Buy Oil and Gas Company Clayton Williams

Noble Energy will pay $2.7 billion to buy Clayton Williams Energy in a deal that will give it a combined 120,000 acres of oil-rich property in West Texas.

Despite Plunging Peso, Wildcatters Try Making Money on Oil in Mexico

Wildcatters are crossing the border into Mexico to pour money into the country's recently deregulated energy sector, betting that the plunging peso and other economic stress won't disrupt their business.

Fiat Chrysler Allegations Fuel European Emissions Scandal

Allegations against Fiat Chrysler, a probe into Renault and Volkswagen's admission of guilt to criminal charges point to the possibility of widespread emissions cheating and a Europe-wide problem with rule enforcement.

(END) Dow Jones Newswires

January 18, 2017 00:15 ET (05:15 GMT)

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