News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Shell Faces Hit From U.S. Tax Reform

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Royal Dutch Shell said it faces a charge to its fourth-quarter earnings of $2 billion to $2.5 billion following the changes to U.S. tax reform.

Oil Prices Rise to Two-Year Highs

U.S. crude rose to $59.97 a barrel, the highest settlement since June 2015, following a pipeline explosion in Libya.

Regulators Propose Rollbacks to Offshore Drilling Safety Measures

Federal regulators are proposing to roll back safety measures put in place after the Deepwater Horizon oil spill, which could affect real-time monitoring of offshore installations and third-party inspector certification.

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China Takes Another Green Step Forward

China is adopting a new green index in a bid to pressure local governments to reduce pollution and create more-sustainable economic development.

Russian Nuclear Plant Stokes Europe's Fears of a Power Play

Russia's plan to build a nuclear power plant in Moscow-friendly Belarus is fueling fears in the Baltics that the facility is at least partly intended as a weapon to induce panic and destabilize the region.

China's Bid to Dominate Oil Pricing Will Fail

Chinese regulators say they are on the cusp of launching their own oil futures contract, priced in yuan. Chinese future markets are already key in setting iron and coking coal prices-but a yuan denominated oil contract will struggle.

Oil Majors Interested in Mexican Deep-Water Oil Auction

Twenty-nine companies including a bevy of majors are seeking to pre-qualify for bidding in Mexico's second auction of deep-water oil blocks in the Gulf of Mexico, scheduled for the end of January.

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.

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.

(END) Dow Jones Newswires

December 27, 2017 04:15 ET (09:15 GMT)