News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Shell Shuts Down Europe's Largest Refinery After Fire

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A fire at a high-voltage electricity switch station prompted the shutdown of the refinery in Rotterdam, the Netherlands, which had the capacity to refine 400,000 barrels of crude oil a day.

OPEC Has a Crippling Problem: Its Members Can't Stop Pumping

Eight months after a landmark deal to cut oil output to force prices up, big budget obligations are driving members to keep producing.

U.S. Weighs Sanctions Against Venezuela's Oil Industry

U.S. government officials are considering stepping up sanctions against Venezuela by targeting its vital oil industry, although an embargo against Venezuelan crude oil imports into the U.S. is off the table for now, people familiar with the deliberations say.

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Investors Eager to Hear Shale Companies' Plans for Rest of 2017

Some American oil producers may be pumping the brakes on new drilling, but as the leading shale players get set to report earnings this week, investors will be watching closely to see how much the industry is really slowing its ambitious plans for growth.

Big Oil Posts Healthy Profits

The largest U.S. energy companies reported robust profits on Friday, continuing a quarter in which the world's big oil firms reported their strongest gains since a pronounced price crash began in 2014.

Oil Gains on OPEC Cuts, Rising Demand

Oil prices rose every day this week, their best since December, as renewed optimism about falling supply and rising demand refuel a rally.

U.S. Oil Rig Count Rises by Two

The number of rigs drilling for oil in the U.S. rose by two in the past week to 766, according to oil-field services company Baker Hughes, now a unit of General Electric Co.

Fiat Chrysler Gets Approval to Sell Diesel Vehicles Amid Ongoing Emissions Probe

Fiat Chrysler Automobiles received approval from government regulators to sell 2017 model year vehicles equipped with diesel engines after a months-long delay and amid a probe into the company's alleged use of illegal emissions software.

J.P. Morgan Taps Renewable-Energy Markets

J.P. Morgan Chase is following rivals such as Citigroup, Morgan Stanley and Goldman Sachs in seeking to tap renewable-energy markets by striking deals that offset its own power needs.

Chevron Swings to Profit, Buoyed by Cost Cuts

Chevron swung to a profit in the second quarter as it benefited from higher crude oil and natural gas prices and efforts to cut costs throughout its operations.

(END) Dow Jones Newswires

July 31, 2017 04:15 ET (08:15 GMT)