Energy in America

Four environmental groups are suing to overturn a federal petroleum lease sale in northern Alaska.

___ Dow industrials drop 600 points, extending a weeklong slump NEW YORK (AP) — U.S. stocks slumped Friday, pulling the Dow Jones industrial average down more than 650 points and handing the market its worst week in two years.

The Latest on lawsuit's challenging the legality of a December petroleum lease sale in the National Petroleum Reserve-Alaska (all times local): 1 p.m. Four more environmental groups are challenging the legality of petroleum lease sales conducted in northern Alaska by the federal government.

Exxon and Chevron are earning billions and benefiting from the new tax law, but profits are falling short of expectations that were raised by higher oil prices.

The oldest nuclear power plant in the United States will shut down in October, more than a year ahead of schedule.

The number of rigs exploring for oil and natural gas in the U.S. fell by one this week to 946.

Falling production and weakness in its chemical and refining operations slammed the oil giant.

Asian shares were mostly lower Friday as investors evaluated the latest earnings reports while worries about rising U.S. bond yields weighed on sentiment.

U.S. stock indexes wavered between small gains and losses in early trading Thursday after several big companies reported disappointing quarterly results or outlooks.

President Donald Trump says he didn't really care about opening Alaska's Arctic National Wildlife Refuge to oil drilling but pushed the issue for inclusion in the tax bill passed in December at the urging of others.

___ Strong January, strong year?

Federal officials are blaming a lack of leadership, money and communication in Puerto Rico for setting back hurricane recovery efforts in the U.S. territory.

One of the largest U.S. electricity companies is making changes that could make it easier for black, female and other minority-owned construction and hauling firms to compete for work on its multibillion-dollar project to excavate and close coal-ash storage pits.

Turkmenistan, which once provided drivers a quota of free gasoline every month, has raised its pump prices by 50 percent as the country struggles with low prices for its mainstay export of natural gas.

A mining watchdog is advising the Dutch government to significantly decrease the amount of gas extracted from the northeastern region of Groningen, saying a cut is necessary to reduce the risk of damage caused by subsequent earthquakes.

Energy giant Shell says its fourth-quarter earnings more than doubled as oil prices surged and the company benefited from prior cost cutting.

Asian markets were mixed on Thursday with Tokyo stocks higher as the yen weakened against the U.S. dollar.

The Australian government has announced tighter controls on foreign investment in electricity grids and farmland two years after Chinese buyers were blocked from high-profile corporate takeovers in both sectors.

German automaker Daimler AG says its net profit rose 24 percent to a record 10.9 billion euros ($13.5 billion) last year, helped by strong sales of its Mercedes-Benz SUVs and new E-Class luxury sedan.