News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Prices Rise in Thin Trading

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Oil prices rose Friday, reversing earlier losses amid thin trading ahead of the holiday weekend.

Georgia Officials Approve Funding for Troubled Nuclear Plant

Georgia officials voted Thursday to continue building two half-finished nuclear reactors even though construction is more than $10 billion over budget and five years late.

Brazil's Petrobras Keeps 5-Year Investment Plan Steady

Brazilian state-run oil company Petróleo Brasileiro said it plans to maintain its annual investment budget over the next five years at $74.5 billion, thanks to a recovery in oil prices and an ambitious production outlook.

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Euronav to Buy Gener8 to Create Oil-Tanker Giant

Euronav said it is buying rival Gener8 Maritime, in an all-share deal expected to create one of the world's biggest oil tankers and kick off a round of consolidation in the sector.

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

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.

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.

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.

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.

(END) Dow Jones Newswires

December 22, 2017 16:15 ET (21:15 GMT)