Shares of energy producers rose as the energy complex looked set to return to full production in the wake of Hurricanes Harvey and Irma. Hurricane Irma skirted major energy installations as it wrought destruction on the Caribbean and Florida. Refineries knocked out by Hurricane Harvey, meanwhile, looked set to come back to full capacity. BP shares rose after the British oil giant said it would file for an initial public offering for its U.S. pipeline assets, creating a master-limited partnership called BP Midstream Partners. The move echoes those taken by rivals such as Royal Dutch Shell, packaging pipeline and infrastructure assets in a more tax-efficient, investor-friendly vehicle.
-Rob Curran, email@example.com
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(END) Dow Jones Newswires
September 11, 2017 16:18 ET (20:18 GMT)