News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil's OPEC Rally Reaches New Highs

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Oil prices rose to fresh one-month highs Tuesday, extending a winning streak to five sessions on optimism that the coming OPEC meeting will result in more production cuts.

Why OPEC Wants to Extend Oil Cuts: Aramco's Coming IPO

Saudi Arabia is pushing the OPEC oil cartel and other big producers to extend crude production cuts for another nine months to give a boost to the coming IPO of Saudi Arabian Oil Co.

Chevron Tax Strategy Faces Crackdown

A tax dispute between Australia and Chevron has the potential to cost the company billions of dollars and open a new front in global efforts to crack down on aggressive tax strategies used by many multinationals.

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U.S. Sues Fiat Chrysler Over Diesel Emissions

The Justice Department sued Fiat Chrysler and alleged the Italian-American auto maker used illegal software to cheat on government emissions tests, despite a recent proposal from the company to regulators on fixing the technology.

Westinghouse Global Businesses Roiled by Bankruptcy

Westinghouse Electric Co.'s bankruptcy threatened to put its global business in jeopardy of "urgent regulatory nuclear compliance issues," according to court documents unveiled late Monday evening.

Glencore Makes Takeover Approach to Bunge

Glencore PLC has made a takeover approach to grain trader Bunge Ltd., a move that would make the Swiss mining giant a major player in the U.S. agriculture market.

The Rise of the Amateur Oil Sleuths

Dramatic gyrations in the price of oil in the past three years have boosted demand for intelligence, intensifying competition in a market long dominated by governments, oil companies and a handful of big data providers.

Kentucky Coal Country Turns to Drones, Tomatoes, Solar Energy

Eastern Kentucky is drawing diverse ventures aimed at reviving a region decimated by job losses in the coal industry, including a drone-testing facility and high-tech greenhouse.

Big Oil Is Betting on Plastics. It May Be a Risky Bet.

As oil production for fuel loses primacy, the industry is reorienting around petrochemicals. WSJ Energy Expert Amy Jaffe says the future of plastics may also be limited.

Petrobras Issues $4B in Debt on International Markets

Brazilian state-controlled oil company Petróleo Brasileiro said it issued $4 billion in debt on international markets at the lowest interest average interest rate since 2013.

(END) Dow Jones Newswires

May 23, 2017 16:15 ET (20:15 GMT)