News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Tables Turned: Saudi Arabia Hunts for Oil Assets in the U.S.

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

Oil Edges Higher On Large Inventory Draw

Oil prices edged higher on Wednesday, after U.S. government data showed a larger-than-expected drop in U.S. stockpiles.

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.

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For Oil Drillers, Glut Damps the Excitement as Arctic Opens Up

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.

Shell, Eni Face Italian Charges Over Nigerian Deal

Royal Dutch Shell PLC, the chief executive of state-backed Italian energy company Eni SpA and other industry executives must stand trial on corruption charges connected to a 2011 Nigerian oil deal, an Italian judge ruled Wednesday.

Analysts See Large Drain from U.S. Natural-Gas Inventories

Analysts expect government data scheduled for release Thursday to show that natural-gas stockpiles declined by 169 billion cubic feet, more than the average for this time of year.

Saudis Plan to Reap Billions in Crackdown on Wealthy Princes

Saudi Crown Prince Mohammed bin Salman plans to take from the rich and give to the state. The kingdom plans to inject billions of dollars it recovers from a sweeping corruption probe into its state budget 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.

(END) Dow Jones Newswires

December 20, 2017 16:15 ET (21:15 GMT)