News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Ticks Up as Hurricane Approaches Texas

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Oil prices advanced, recouping some losses that had been driven by concern that a hurricane moving toward the U.S. gulf coast could lead to excess inventories.

Duke Pulls Plug on Nuclear Plant

Duke Energy is abandoning plans to develop a nuclear plant in South Carolina, the latest blow to the U.S. nuclear industry. The company had planned to build two reactors.

U.S. Oil-Rig Count Falls for Second Straight Week

The number of rigs drilling for oil in the U.S. fell by four in the past week to 759, according to oil-field services company Baker Hughes Inc., a unit of General Electric Co.

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U.S. Toughens Penalties on Venezuela by Curbing Its Access to Funds

The U.S. on Friday restricted the ability of Venezuela to tap American debt markets for funding, marking a significant escalation in Washington's economic crackdown against Venezuelan President Nicolás Maduro's cash-strapped government.

Harvey Strengthens to Category 3 Storm

Hurricane Harvey, which is expected to hit Texas late Friday or early Saturday, has strengthened to a Category 3 storm, the National Hurricane Center said.

First Hurricane in Decade Arrives in Transformed Oil Landscape

While the energy sector previously would have fretted over a hurricane's threat to crude production, the worry these days is about the facilities that refine the oil instead of pump it, since the ability to tap U.S. shale formations has put more production at locations farther from the coast.

GM to Address Bolt Cars' Battery Defect Using Onstar System

GM said it would remotely identify and notify Bolt electric-car owners affected by a battery power glitch using its Onstar telematics service.

Texas Regulators Wary of Latest Deal for Utility Business Oncor

Sempra Energy's deal to purchase Oncor includes a commitment to pay off up to $3 billion in debt within seven years, a promise designed to calm jittery Texas regulators who must approve the takeover of a key piece of the state's power grid.

Return On Warren Buffett's Attempt to Buy Oncor: Zero

Warren Buffett has nothing to show for his attempt to buy one of the country's largest power-transmission companies.

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

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

(END) Dow Jones Newswires

August 25, 2017 16:15 ET (20:15 GMT)