Latest on Oil

Crude prices fell further in Asia trade on Wednesday as a larger-than-expected increase in U.S. crude stocks reinforced views that American oil producers could thwart efforts reduce global oversupply.

Trump Administration Gives Final Approval for Dakota Access Pipeline

The Trump administration has given a final green light to the Dakota Access Pipeline, fulfilling a campaign pledge to boost energy projects but likely infuriating activists fighting the project.

BP Needs Oil to Rise to $60 to Break Even

BP said it needed oil prices to rise to $60 a barrel in order to break even, as the British oil giant ramped up debt levels last year to fund spending, maintain its dividend and cope with costs associated with the 2010 Deepwater Horizon disaster.

Statoil to Keep Capital Expenditures at 2016 Level as Net Loss Widens

Norway's Statoil said capital expenditures in 2017 will remain around $11 billion while targeting a further $1 billion in savings after the oil-and-gas producer posted a huge loss in the fourth quarter.

Parsley to Purchase Permian Assets in $2.8 Billion Deal With Double Eagle Energy

Parsley Energy Inc. said Tuesday it would buy undeveloped land as well as oil-and-gas-producing assets in the oil-rich Permian basin from Double Eagle Energy Permian LLC in a stock-and-cash deal worth about $2.8 billion.

Emerson Electric Raises Earnings Outlook

Emerson Electric Co. on Tuesday reported profit fell 11% for its first quarter, though the St. Louis conglomerate said it saw indications of improving conditions and raised its annual outlook for earnings from continuing operations.

Virgin Islands Utility Sinks Deeper Into Financial Hole

A dispute between the Virgin IslandsWater and Power Authority, or WAPA, and its government regulator has triggered another downgrade of its speculative-grade debt.

Volkswagen Forms U.S. Unit for Zero-Emission Vehicles

Volkswagen launched Electrify America, designed to oversee $2 billion in investments to promote zero-emission vehicles such as electric cars, a commitment the auto giant made in the wake of cheating on U.S. emissions tests for several years.

U.S. Oil Inventories Seen Rising

U.S. crude oil supplies are expected to show an increase of 2.5 million barrels in data due Wednesday from the U.S. Energy Department.

Pipeline Companies Struggle to Contend With Reinvigorated Protests

Pipeline companies are bracing for more protests by environmentalists and other activists, tempering industry excitement over President Donald Trump's moves to revive the Keystone XL and Dakota Access projects.

New Study Adds to Mystery of Water on Mars

The early Martian atmosphere likely didn't contain enough carbon dioxide to keep the planet warm enough for liquid water, further complicating the mystery of how it could have once been home to the lakes and rivers that left their marks on its surface.

(END) Dow Jones Newswires

February 08, 2017 00:15 ET (05:15 GMT)

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