Latest on Oil

Oil prices are rising Tuesday after data about OPEC production shows high compliance with its deal on production cuts aimed at raising prices.

Shutdown of Texas Pipeline Boosting Oil Prices

The rupture and closure of a major crude oil pipeline in Texas jointly-owned by Enterprise Products Partners and Enbridge helped to push oil prices higher Tuesday as crews worked to clean up the spill.

Exxon Profit Tumbles on Charge; Revenue Rises

Exxon Mobil wrote down the value of more than $2 billion in U.S. assets, a rare step for the company, as it reported sharply lower fourth-quarter earnings.

Shell to Sell U.K., Thai Assets for Almost $5 Billion

Royal Dutch Shell capped off a flurry of deals this month with sales in Thailand and the North Sea worth nearly $5 billion, marking important milestones in the oil giant's move to offload $30 billion in assets.

Toshiba to Exit Nuclear Construction Business

Toshiba plans to stop building nuclear power plants after incurring billions of dollars in losses trying to complete projects in the U.S., a move that could have widespread ramifications for the future of the nuclear-power industry.

Energy Projects in Limbo After FERC Vacancy

The fates of several gas pipelines and at least two big electric utility mergers have been thrown into question in the wake of a high level resignation at the Federal Energy Regulatory Commission.

Valero Energy Revenue Rises 10%

Valero Energy posted quarterly results that beat Wall Street expectations as downtrodden energy markets show glimmers of a turnaround.

U.S. Crude-Oil Stocks Seen Increasing in DOE Data

U.S. crude-oil stocks are expected to show an increase of 2.9 million barrels, on average, according to a survey of analysts and traders by The Wall Street Journal.

Texas Pipeline, Highway Remain Shut After Rupture

A major crude oil pipeline owned by Enterprise Products Partners and Enbridge Inc. remained shut Tuesday after road construction crews ruptured it northeast of Dallas, causing a gusher that sprayed oil all over a highway.

Azure Midstream Files for Chapter 11 Bankruptcy

Azure Midstream Partners, a gas-gathering and transportation company, filed for chapter 11 bankruptcy protection after reaching a deal to sell its assets to a stalking horse, or lead, bidder.

Frontline Makes Hostile Bid for Rival DHT

Norwegian shipping company Frontline Ltd. launched a $475 million takeover bid for rival DHT Holdings Ltd., seeking to expand its fleet of supersize oil tankers at a time that the industry is battling low rates.

(END) Dow Jones Newswires

January 31, 2017 16:15 ET (21:15 GMT)

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