News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Edges Lower As Traders Eye Tropical Storm

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Oil prices eased on Thursday as investors braced for a potential hurricane and remained cautious as to whether the glut in oil supplies was finally disappearing.

OPEC Keeps Options Open, Including Extending Cuts

The oil cartel OPEC said all options remained open at its next meeting in November, including extending its effort to reduce the global petroleum glut by withholding supplies-a move that one member, Angola, now says it prefers.

Seadrill, a Big Offshore Oil Player, to Seek Bankruptcy Protection

Offshore-drilling services major Seadrill said Thursday it will likely file for bankruptcy protection in under three weeks as part of a plan to restructure around $10 billion in debt.

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Westinghouse Seeks to Award Bonuses to 'Vital' Employees

Westinghouse Electric is seeking authorization to end a deferred-compensation plan and pay up to $13.8 million in retention bonuses to employees that the company says possess specialized skills.

Minor Reforms Called Enough to Support Electric Grid

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.

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.

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.

(END) Dow Jones Newswires

August 24, 2017 11:15 ET (15:15 GMT)