News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Hovers Near Multimonth Highs

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Oil prices were mixed but hovered near multimonth highs Tuesday amid a pause in a rally that has been propelled by expectations that major producers would extend output cuts.

Utility Touts Electrification to Meet California Climate Goals

California can meet its goals for slashing greenhouse gas emissions, but it will require a massive shift to electric vehicles, charging stations and renewable energy, one of the state's biggest power companies said.

BP to Restart Share Buybacks as Oil Industry Regains Footing

BP on said it would restart its share buyback program after posting healthy third-quarter earnings, the latest signal that the oil industry has found its footing amid a modest crude-price recovery.

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Tailwater Capital Commits Up to $100 Million to New Midstream Company

Elevate Midstream is one of a series of deals the Dallas firm plans to announce in the coming weeks

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.

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.

(END) Dow Jones Newswires

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