Oil Steady Amid Pipeline Outage, Decline in U.S. Stocks
Continue Reading Below
Oil prices held steady, supported by a continuing outage of a North Sea pipeline and data showing a decline in U.S. crude inventories.
China to Shake Up Global Market With Yuan-Based Oil Futures Contract
China is preparing to launch its own yuan-based oil futures contract, a move set to shake up the 96 million barrel-per-day global crude market currently dominated by trading in London and New York.
Cobalt International Energy Reaches Deal for Angolan Assets
Cobalt International Energy and Angola's Sociedade Nacional de Combustíveis de Angola have reached a tentative agreement under which the state-run oil-and-gas company would pay $500 million to Cobalt for its interests in offshore wells in the West African nation.
Continue Reading Below
Nebraska Refuses to Amend Keystone XL Application
The Keystone XL pipeline could face more delays after Nebraska regulators denied a request by TransCanada Corp. to refile its application for the project.
BHP Threatens Exit from Coal Lobby, Chamber of Commerce
BHP Billiton, the world's largest Western mining company, is threatening to leave the World Coal Association and U.S. Chamber of Commerce over disagreements on climate policy, the latest commodity firm to react to pressure on global warming.
New Jersey Considers Nuclear Subsidies to Forestall Plant Closures
New Jersey lawmakers rushed to aid Public Service Enterprise Group after the company threatened to close plants, but critics say the move would set back the state's renewable energy efforts and cost taxpayers.
Georgia Utility Faces Key Nuclear-Plant Vote
Days after Atlanta's airport blackout outage, which authorities say appears to have been caused by a fire in a piece of Georgia Power equipment, state utility regulators will decide the fate of a half-finished nuclear plant the company is building that is years behind schedule and billions over budget.
U.S. Crude-Oil Supplies Seen Decreasing in DOE Data
U.S. crude-oil inventories are expected to show a decrease of 3.2 million barrels in data due Wednesday from the Department of Energy. Gasoline stockpiles are expected to grow by 1.1 million barrels on average.
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.
(END) Dow Jones Newswires
December 20, 2017 07:15 ET (12:15 GMT)