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News Highlights: Top Energy News of the Day

WTI Oil Prices Have Worst Week Since October 

U.S. benchmark oil prices finished the session 1.2% lower and the week down a hefty 7.7%, marking the biggest one-week decline since Oct. 30.

U.S. Oil-Rig Count Rises by 2 in Latest Week, Baker Hughes Says 

The number of rigs drilling for oil in the U.S. rose by two in the latest week to 387, according to oil-field services company Baker Hughes.

New Zealand's Oil Refinery Set to Convert Into Import Terminal 

New Zealand will stop refining crude oil from next year after shareholders in the country's sole refinery greenlighted a plan to convert it to a gasoline-import terminal, stirring debate about fuel security.

Energy & Utilities Roundup: Market Talk 

The latest Market Talks covering Energy and Utilities

Exxon Considers Pledging 'Net Zero' Carbon by 2050 

The oil company is facing pressure from investors to demonstrate a bolder path to reducing emissions.

BHP Approves $800 Million in Capex 

BHP Group has approved capital expenditure to execute an oil project in the U.S. Gulf of Mexico and to move an oil project in Mexico into the front end engineering design phase.

Coal Is a Gold Mine for Producers After Blistering Rally 

Glencore, one of the biggest miners of thermal coal, reported record first-half earnings and expects the fuel to be a big moneymaker for the rest of the year.

Shale Profits Capped by Wrong-Way Bets as Oil Prices Rose 

Oil companies collected billions of dollars in cash as oil prices surged in the second quarter. But the sum was limited by hedging contracts meant to protect drillers from another price crash.

U.S. Crude-Oil Inventories Unexpectedly Surge Higher 

Crude-oil stockpiles rose by 3.6 million barrels to 439.2 million barrels, about 6% below the five-year average, compared with analysts' expectation for a drop of 2.7 million barrels.

New Zealand's Renewable-Energy Dreams Get a Reality Check 

A power crunch has spread across the South Pacific country after dry weather led to below-average hydropower generation.


(END) Dow Jones Newswires

August 06, 2021 16:15 ET (20:15 GMT)

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