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Tesla Inc. is splitting its richly valued shares in a 5-for-1 exchange, a move designed to make the stock less expensive for individual investors after the company became the world’s most valuable automaker.

Occidental Petroleum Corp. will have just a single oil rig in the Permian Basin in the second half of the year, illustrating the scale of the shale industry’s pullback and the company’s debt woes.

The California Department of Transportation is repaving a segment of a state highway using only recycled materials in a pilot project.

The average price of diesel increased for the first time in four weeks, inching up four-tenths of a cent nationally to $2.428 per gallon on Aug. 10, according to the Energy Information Administration’s weekly report.

Nikola Corp. announced it received a minimum order for 2,500 heavy-duty electrified refuse trucks from Republic Services Inc. that could expand to 5,000 over the life of the agreement.

Hydrogen-powered vehicles could soon be more common on the streets of Australia’s biggest city after Hyundai Motor Co. reached a supply deal for the zero-emission fuel with local producers.

Independent engine maker Cummins Inc. supplied a leading 34.7% of the diesel engines used in the first half of 2020.

Oil swung between gains and losses as uncertainty over the prospect of a U.S. virus relief bill that could boost fuel consumption offset signals of tightening global supply.

Cadillac is turning to its next chapter as an electric-vehicle brand with the debut of the 2022 Cadillac Lyriq crossover.

ExxonMobil Corp. warned that low energy prices may wipe as much as one-fifth of its oil and natural gas reserves off the books.