News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

BP Swings Back to Profit on Higher Crude Prices

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British oil giant BP returned to profit in the second quarter and demonstrated its ability to generate cash again, with slightly higher oil prices than last year and deep cost cuts lifting earnings.

Blackstone Energy to Buy Stake in Troubled Rover Pipeline

Energy Transfer Partners said Blackstone Energy Partners will acquire a 32.4% stake in the Rover Pipeline project, which has faced environmental scrutiny due to spills of drilling mud in Ohio wetlands earlier this year.

Oil Prices Settle Above $50

Oil prices turned higher late Monday afternoon to settle above $50 a barrel for the first time in more than two months.

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Natural Gas Posts Worst Day Since February

Natural-gas prices on Monday had their worst day since February as traders began to bet that summer is going to go out with a whimper.

Nuclear Power's Growth in U.S. Takes a Hit

Hopes for a U.S. nuclear renaissance dimmed Monday when the owner of a partially built power plant in South Carolina pulled the plug after its costs ballooned by billions of dollars.

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.

Shell Shuts Down Europe's Largest Refinery After Fire

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.

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.

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.

(END) Dow Jones Newswires

August 01, 2017 04:15 ET (08:15 GMT)