News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Giants' Profits Soar, but Investors Aren't Sold

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The world's biggest Western energy companies, including Exxon Mobil and Chevron, are on track to post the highest annual profits since the oil market crashed three years ago. Still, shareholders want to see more.

Oil Rises; Brent Tops $60 a Barrel

Oil prices rose, with Brent crude topping the elusive $60-a-barrel mark for the first time in more than two years.

Brazil Oil Auction Beats Expectations

Oil executives and government officials were ebullient following the conclusion of a major oil auction in Brazil, where a yearlong effort to lure foreign investment into the energy sector appeared to have paid off.

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Venezuela State Oil Company Says It Is Making Bond Payment

Venezuela's cash-strapped state oil company said it would make an $842 million bond payment in a bid to quell default fears as the energy giant struggles with falling crude production and a punishing economic crisis.

Puerto Rico Utility Contracting Sparks New Probes

Questions surrounding a $300 million deal to reconstruct Puerto Rico's electrical grid continue to reverberate as federal and local politicians began investigating the U.S. territory's disaster-recovery spending.

U.S. Oil Rig Count Rises, While Gas Rig Count Falls

The number of rigs drilling for oil in the U.S. rose this week by one to 737, Baker Hughes reported.

Total's Renewables Bet Disappoints in Third Quarter

French oil giant Total has laid out a vision to expand in renewables and power. The challenge is to turn this business into a consistent profit machine.

Saudis Showcase Technology in Bid to Woo Business Leaders

Saudi Arabia this week set out to dazzle the world's business elite, who welcomed signs that an insular kingdom is opening up even though some expressed skepticism the monarchy could accomplish the grand goals it set out.

Big Oil's Suddenly Popular Measure for Success: Break-Even Oil Price

Investors are watching the once-obscure figure at which companies say they can sell oil for a profit, seeking assurance that they will continue paying dividends despite low energy prices.

Scana Profit Pressured by Failed Nuclear Plant Project

Utility holding company Scana Corp. saw its profit plunge during its latest quarter, pressured by a $210 million impairment charge linked to a failed nuclear power plant project.

(END) Dow Jones Newswires

October 27, 2017 16:15 ET (20:15 GMT)