News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Minor Reforms Called Enough to Support Electric Grid

Continue Reading Below

A federal report suggests minor market reforms can help ensure a reliable electric power grid and shies away from handouts to struggling coal and nuclear-power producers.

Petrobras Suspends Top Compliance Officer

Brazilian state-run oil firm Petróleo Brasileiro suspended its top compliance official over a potential conflict of interest, in a blow to the company's image as it seeks to move past a massive corruption scandal.

Rosneft Prevails in Lawsuit Against Sistema

A regional arbitration court in Russia ruled in favor of Russian oil giant PAO Rosneft, in a case seen as a test of the country's investment climate.

Continue Reading Below

U.S. Natural-Gas Inventories Seen Up in Week

Analysts expect U.S. government data to show that natural-gas stockpiles rose by 42.7 billion cubic feet in the week ended Aug. 18, which would be less than average for this time of year.

Oil Gains After Stockpiles Data

Oil prices flipped from losses to gains as U.S. data showed that supplies of oil and gasoline fell and as investors tried to gauge the impact of a storm in the Gulf of Mexico.

U.S. Oil and Gasoline Supplies Fall in Week

U.S. inventories of crude oil declined by a slightly-greater-than-forecast 3.3 million barrels for the week ended Aug. 18, while gasoline supplies fell by 1.2 million barrels, more than double what analysts had expected, U.S. government data showed.

Saudi Aramco Sparks Rush to Mideast IPOs

Saudi Arabia's move to list its state-run oil giant, combined with years of lower oil prices, has inspired neighboring oil-producing countries to tap public markets as a new source of revenue.

LG Electronics to Build Factory for Electric-Car Parts in Michigan

The South Korean company will spend about $25 million to build a plant in a Detroit suburb.

BHP to Replace Two Directors in Board Shuffle

BHP Billiton said it plans to replace two directors amid its monthslong tussle with activist investor Elliott Management, following the miner's decision earlier this week to exit its American shale oil and gas business.

Chevron CEO's Exit Reflects a Changing of the Guard for Big Oil

The departure of Chevron CEO John Watson underscores the dramatic shift under way at big oil companies as they adapt to a prolonged period of lower prices brought about by the U.S. shale boom.

(END) Dow Jones Newswires

August 24, 2017 00:15 ET (04:15 GMT)