News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Steady Amid Pipeline Outage, Decline in U.S. Stocks

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Oil prices held steady, supported by a continuing outage of a North Sea pipeline and data showing a decline in U.S. crude inventories.

U.S. Oil Inventories Fall as Refinery Activity Quickens

U.S. inventories of crude oil fell by 6.5 million barrels, more than twice what was expected, for the week ended Dec. 15 as refinery activity sped up, according to EIA data.

Oil Glut Makes Alaska Reserves Less Attractive to Drillers

Republicans are poised to offer up a bevy of new opportunities for oil exploration in lands and waters owned by the government, but their efforts come at a time when a glutted oil market has companies less eager to find new sites to drill.

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Saudi Arabia Searches for U.S. Shale-Oil Deal

Saudi Arabia is hunting for an energy deal in American shale country, as economic upheaval pushes it to seek its first-ever international oil and gas production investments.

Shell, Eni Face Italian Charges Over Nigerian Deal

An Italian judge indicted Royal Dutch Shell, the chief executive of the Italian oil-and-gas company Eni and other industry executives on corruption charges connected to a 2011 deal to acquire drilling rights off the coast of Nigeria.

Saudi Arabia Expects to Recover Billions for State Budget from Crackdown

Saudi Arabia plans to inject billions of dollars it recovers from a sweeping corruption probe into its state budget, the kingdom's finance minister said, as it rolls out an expensive plan to reshape its oil-dependent economy.

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.

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.

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.

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.

(END) Dow Jones Newswires

December 20, 2017 11:15 ET (16:15 GMT)