News Highlights: Top Energy Stories of the Day

Oil Prices Near Flat on Strong U.S. Production Outlook 
 Stock Market Quotes, Business News, Financial News from

Crude prices were near flat in Asia Wednesday morning, as traders and investors are discouraged by the upward revision in U.S. crude production outlook. Also weighing on sentiment are concerns that the upcoming meeting among major oil producers may not yield any action to reduce the global glut. (published 0341 GMT)

Parkmead Group Doubles Stake in 2 UK Oil Fields 

Parkmead Group PLC, a U.K. and Netherlands focused independent oil and gas group, said Wednesday it has doubled its stake in the Polecat and Marten oil fields in blocks 20/3c & 20/4a within license P.2218 in the U.K. Central North Sea. (published 0650 GMT)

Andalas Energy Proof Of Work Program Approved 

Oil and gas explorer Andalas Energy & Power PLC Wednesday said Indonesia’s national energy company has approved its proof of concept work program for a gas field. (published 0659 GMT)

China Cracks Down on Nuclear-Project Protests -- 2nd Update 

After thousands of people took to the streets of the eastern city of Lianyungang to protest the prospect of a nuclear-fuel-recycling plant there (published 0544 GMT)

SunPower to Cut 15% of Workforce -- 3rd Update 

SunPower Corp. warned of near-term challenges in its power plant segment and said it would cut about 1,200 jobs, or 15% of its workforce, though the company said it had a strong quarter. (published 0007 GMT)

SolarCity Losses Widen on Higher Expenses--Update 

SolarCity Corp., which is in the process of being acquired by fellow Elon Musk company Tesla Motors Inc., reported a wider quarterly loss Tuesday as operating expenses climbed sharply. (published 2303 GMT Tuesday)

AGL Energy Swings to Loss on Exit From Gas Exploration, Production 

Power producer and retailer AGL Energy Ltd.’s was pitched to an annual loss by its decision to exit natural-gas exploration and production. (published 2239 GMT Tuesday)

Cheniere Energy Reports Loss as Glut in Natural Gas Depresses Prices -- Update 

Natural-gas exporter Cheniere Energy Inc. reported a second-quarter loss Tuesday as its ramp-up in production of liquefied natural gas faces a world-wide glut that is depressing prices. (published 2047 GMT Tuesday)

Oil Rig Washes Aground on Scotland Shore -- Update 

British authorities have opened a probe into how a Transocean Ltd. oil rig ran aground in Scotland, the company and investigators said. (published 2044 GMT Tuesday)

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