News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Edges Down From Risk-Driven Gains

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Oil prices pulled back, giving up a few of the prior day's gains as some investors cashed in on the week's price rise.

U.S. Oil Inventories Drop By More Than Expected

Oil inventories fell sharply in the latest week, while gasoline and other fuel supplies increased, U.S. government data showed. Crude-oil stockpiles slid by 5.7 million barrels, surpassing the 3.2 million drop analysts had expected.

Analysts See U.S. Natural-Gas Inventories Rising

Government data are expected to show that natural-gas stockpiles grew by 56.9 billion cubic feet in the latest week, which would be 27% less than average for this time of year.

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Energy Producer Founded by Aubrey McClendon Aims for IPO

Ascent Resources, the Appalachian oil-and-gas explorer founded by late oilman Aubrey McClendon and two big energy-investment firms, is preparing for an initial public offering or a sale.

Big Oil Touts Its Core Business: Fossil Fuels

Big oil company executives asserted that fossil fuels would remain the central part of their business for decades, despite recent investments in renewables and other energy sources made in response to efforts to curb carbon emissions.

Three Hedge Funds Call on Ocean Rig to Explore Deals

Three hedge-fund owners of recently restructured offshore-drilling company Ocean Rig UDW Inc. are calling on it to hire a financial adviser to explore options, including a sale.

Algeria Adds Voice to Calls for OPEC to Continue Oil Cuts

Algeria wants OPEC to continue with production cuts, the country's state oil-company chief said, adding to expectations the cartel will keep withholding supplies from the market.

Vivo Energy Bets on Africa With $3 Billion IPO

Vivo Energy Investments, a major Shell licensee in Africa, is eyeing an initial public offering over the coming months that could value the petrol company at more than $3 billion.

BHP Sells Some Shale Acreage in Mixed Output Quarter

BHP Billiton Ltd. said work is under way to exit its U.S. onshore oil-and-gas assets, after it sold a small portion of its Hawkville shale acreage in Texas in the recent quarter.

Saudi Oil Minister Plays Down Prospect of Aramco Abandoning IPO

Saudi Arabia still plans to publicly list a portion of its state oil company in 2018, the kingdom's oil minister said, after reports that the effort may be abandoned.

(END) Dow Jones Newswires

October 19, 2017 11:15 ET (15:15 GMT)