Latest on Oil

A steady rise in the number of active rigs since summer has caused some bearishness, but that has been softened by signs that OPEC and other producers will follow their agreement to reduce output.

Baker Hughes Posts First Sequential Revenue Gain in Two Years

Baker Hughes Inc. said revenue rose sequentially in its latest quarter for the first time in two years, as energy prices stabilized.

PG&E Fined $3 Million, Ending San Bruno Explosion Case

A federal judge on Thursday ordered PG&E Corp.'s utility to pay a $3 million fine, complete 10,000 hours of community service and serve five years of probation, after a jury convicted the company of knowingly violating federal safety rules before a deadly natural gas pipeline explosion in 2010.

U.K. Judge Blocks Nigeria Oil Spill Suits Against Shell

Royal Dutch Shell can't be sued by two Nigerian communities in U.K. courts, a judge ruled, dealing a blow to efforts to seek damages in European courts for oil spills in the West African country.

Saudi Aramco Hires Firm to Assess Oil Reserves Before IPO

Saudi Aramco has hired an energy consultancy to assess its reserves of crude oil, people familiar with the matter said, opening a window onto a closely guarded secret ahead of its initial public offering.

BP Warns Battle for Oil Market Share Could Return

The world's appetite for oil will slacken in the coming decades, but petroleum supplies will remain abundant, BP said, highlighting the possibility that big producers will renew their fight for market share.

Saudi Aramco Axes Plans for Petronas Joint Venture

Saudi Aramco has given up plans to partner Malaysia's Petronas for an up to $20.1 billion refining and petrochemicals project, people familiar with the matter say.

New Houston-Based Gas Marketing Company Bets on Mexico

Santa Fe Natural Gas plans to invest heavily in coming decades under the opening of the Mexican natural gas market as it seeks a big role in cross-border energy trade between the U.S. and Mexico.

Canada's AltaGas to Buy D.C. Utility WGL

Canada's AltaGas Ltd. reached a $6.4 billion deal to buy WGL Holdings Inc., Washington, D.C.'s natural-gas utility, more than tripling its customer base.

Peabody Energy Opposes Rival Restructuring Plan

Peabody Energy Corp. has come out against a rival restructuring plan by a group of bondholders and shareholders. Peabody will seek court approval Thursday to put its own plan to a creditor vote.

BHP Billiton Cuts Annual Copper Output Forecast

Copper's rise to an 18-month high is being fanned by global production problems at the world's largest miner, which saw a prolonged power blackout at an Australian mine and now faces threats of a strike in Chile.

(END) Dow Jones Newswires

January 27, 2017 07:15 ET (12:15 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.