News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Prices Gain After U.S. Rig Decline

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Oil prices rose Monday morning following an unexpected fall in the number of U.S. rigs drilling for crude.

Statoil Buys 25% Stake in Major Petrobras Oil Field

Norway's Statoil said it has agreed to buy a 25% stake in Brazil's Roncador oil field from Petroleo Brasileiro for up to $2.9 billion, nearly tripling Statoil's production in the country.

Why Refiners Are Expected to Give Their Tax Savings Right Back to Shareholders

U.S. fuel makers are poised to reap billions under a sweeping Republican overhaul of the tax code. But don't expect them to expand, go on a hiring binge, or lower prices at the pump.

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OPEC's Strange Dilemma: Prices Rising Too High

OPEC is grappling with an unusual conundrum: Oil prices are going higher than it wants. A rise to $65 a barrel could undermine a fragile coalition of 24 oil-producing nations that says it is withholding almost 2% of global oil supply.

Tillerson Says North Korea Has to Stop Nuclear Tests Before Any Talks

U.S. Secretary of State Rex Tillerson told the Security Council that North Korea must "earn its way" back to the negotiating table by ceasing its nuclear tests, adding that the U.S. would accept no precondition for talks.

Elliott Preps for Possible Fight With Hess, Seeks CEO Ouster

Elliott Management Corp. is preparing for a possible tussle with Hess Corp., hoping to either remove John B. Hess as chief executive or push him to consider selling all or part of the energy company.

Cobalt International Energy Files for Bankruptcy

Cobalt International Energy filed for bankruptcy as it deals with the failed sale of operations in Angola and a prolonged downturn in the oil exploration and production industry.

Trump's Pick to Oversee Chemical Safety at EPA Withdraws

President Trump's pick to oversee chemical safety at the Environmental Protection Agency, Michael Dourson, has withdrawn from consideration.

Warburg Pincus Group Invests $780 Million in Texas Shale Startup

A group led by Warburg Pincus agreed to invest $780 million in an oil-exploration company, one of the largest private equity investments in a shale startup.

World Oil Supply Hits Year High, Boosted by U.S. Shale Surge

Shale producers are roaring back to life, pushing the global oil supply to its highest level in a year and undermining OPEC's efforts to rebalance the market, the International Energy Agency said.

(END) Dow Jones Newswires

December 18, 2017 16:15 ET (21:15 GMT)