Daily News Energy Headlines from April 26, 2016

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

FINANCIAL
Exxon Loses Top Credit Rating - On Tuesday, Standard & Poor's downgraded Exxon Mobil Corporation's (NYSE:XMO) (Irving, Texas) credit rating from the top-tier AAA to AA+, the same rating as the U.S. government.

EARNINGS REPORTS
BP Earnings Beat Analysts' Predictions - BP plc (NYSE:BP) (London, England) reported underlying replacement cost profit of $532 million dollars for 1Q16, down from $2.58 billion in 1Q15, but beating analysts' predictions by about $100 million.

Freeport-McMoRan to Cut Energy Jobs - Freeport-McMoRan Incorporated (NYSE:FCX) (Phoenix, Arizona) says that it will cut jobs in its energy business as the segment continues to perform poorly due to low oil and gas prices. The company reported a first-quarter net loss of $4.18 billion compared to a loss of $2.47 billion a year earlier.

PIPELINES
Tough Times for Pipelines: Two Major Northeast Projects Hit Roadblocks - Even under the best of circumstances, it isn't easy to develop an energy pipeline project. In the northeast, two major natural gas pipeline projects have run into roadblocks, but for very different reasons.

CRUDE OIL
Crude Oil Up 3% on Weaker Dollar - U.S. crude oil futures rose $1.40, or 3.3%, on Tuesday as the dollar weakened against other currencies and higher gasoline margins encouraged higher crude runs for refiners.

Libya Asks U.N. to Blacklist Ship Carrying Eastern Oil - The officially recognized government of Libya has asked the U.N. security council to blacklist a tanker bound for Malta carrying oil shipped by the rival eastern Libya government.

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About Industrial Info
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