U.S. oil prices touch 8-week lows, then turn higher as U.S. crude supplies fall

Oil futures touched their lowest levels in about eight weeks on Wednesday, but prices for the U.S. benchmark turned higher following U.S. government data showing an unexpected weekly decline in domestic crude inventories. 


 
Siemens Energy Lifts Guidance, Targets Gamesea Revamp

The company forecast revenue growth of 10%-12% and a free cash-flow of around EUR1 billion, and said it had initiated a restructuring of its wind business, replacing the unit's CEO in the process. 


 
BP Is Ready to Make Acquisitions. Why It's Looking Beyond Oil.

With prices of clean-energy companies in the doldrums, the British energy giant sees opportunity. 


 
Energy & Utilities Roundup: Market Talk

MEG Energy, BP and more in the latest Market Talks covering Energy and Utilities. 


 
BP Earnings Miss. It's Betting Big on the Gulf of Mexico, Which Should Help.

The company is back to exploring for new oil wells, and some of its most aggressive exploration projects are in the Gulf. 


 
Saudi Aramco Net Income Falls on Declining Crude Oil Volumes

Saudi Arabia's national oil company first-quarter profit fell and missed analysts' forecasts due to a lower volume of crude oil sold and weaker refining and chemicals margins. 


 
Bouygues Backs Guidance on Improved First Quarter

Bouygues said its operating profit from activities rose to EUR26 million and the company reiterated its guidance for 2024 of slightly higher sales and profits compared with 2023. 


 
Bill Gates-Backed Ambri Files for Bankruptcy With Plans to Sell Itself

The battery developer entered chapter 11 blaming a challenging fundraising environment and fallout from an ill-fated effort to become a manufacturer. 


 
New EU Cyber Rules for Electricity Providers Aim to Prevent Cascading Outages

Critical power suppliers will be required to submit cybersecurity assessments every three years and implement protections. 


 
Exxon Completes $60 Billion Pioneer Natural Resources Acquisition

Exxon Mobil has completed its $60 billion acquisition of rival Pioneer Natural Resources after reaching an agreement with antitrust regulators, closing out the largest oil-and-gas deal in decades.


(END) Dow Jones Newswires

05-08-24 1115ET