News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

BP to Restart Share Buybacks as Third-Quarter Production Rises

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BP reported a healthy set of third-quarter profits and plans to restart its share-buyback program, signaling the company is increasingly comfortable with low oil prices as it ramps up its growth ambitions.

Oil Hovers Near Multi-Month Highs

Oil prices held near multi-month highs on expectations that output cuts by major producers would be extended.

Why Asia's Largest Oil Company Won't Reward Investors

PetroChina, which reported sharply higher third-quarter earnings Monday, has a lot of attractive features-state financial backing, enormous reserves, and a near-monopoly in the world's most-important natural gas growth market. But policy and market forces are shifting against it.

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Mnuchin Presses Allies to Tighten Iran Sanctions

The Trump administration wants to work with Washington's allies to ramp up sanctions on Iran, U.S. Treasury Secretary Steven Mnuchin said, but he stopped short of calling for special action against firms conducting business with Iran's military corps.

LyondellBasell Makes Takeover Approach to Braskem

LyondellBasell Industries has made a takeover approach to Braskem, eyeing a deal that could value the Brazilian petrochemical company at well over $10 billion.

FBI Is Probing Puerto Rico Power Contract

The FBI is investigating a $300 million contract Puerto Rico's power authority awarded to a tiny Montana energy firm to repair the grid devastated by Hurricane Maria.

Vistra Energy, Dynegy to Merge

Vistra Energy and Dynegy, two large independent power producers, will merge in an all-stock deal, the companies said Monday.

Longtime Ally of Offshore Drillers Oversees Safety Agency

As offshore drillers look to undo Obama-era safety rules, the head of the federal agency responsible for improving safety wants to stress safety but also to "drive performance" in the industry.

LME Revs Up for Electric Cars With New Contracts for Battery Metals

The London Metal Exchange is planning to launch futures contracts for battery metals as early as the start of 2019, the latest example of how the commodities market is hoping to capitalize on the push toward electric vehicles.

GE Board Was Kept in the Dark About CEO's Extra Plane

General Electric executives didn't notify the company's board until this month about its regular flying of a spare business jet for its CEO, and it didn't tell directors that GE had received an internal complaint about the practice several years ago.

(END) Dow Jones Newswires

October 31, 2017 07:15 ET (11:15 GMT)