News Highlights: Top Energy News of the Day

Features Dow Jones Newswires

Oil Gains on Forecast of Cold Weather

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Oil prices edged up, supported by a U.S. cold spell, which is expected to spur consumption of heating fuels and pose challenges for crude production.

Trump Administration Rescinds Fracking Rules for Government Land

Industry groups had argued in court that the Obama administration rules would have duplicated state regulations, putting unnecessary and expensive burdens on petroleum developers.

Russia Bets on Shale Oil to Defend Its Spot as Top Producer of Crude

Russia is hoping the Bazhenov shale formation in western Siberia, the largest in the world, will help it defend its title as the world's top producer of crude oil for decades to come.

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SandRidge Kills Bonanza Creek Deal After Icahn, Others Push Back

Oil-and-gas company SandRidge Energy said it would terminate its deal to buy Bonanza Creek Energy after getting pushback from some of its biggest stakeholders, including activist investor Carl Icahn.

U.S. Oil Inventories Fall as Refinery Activity Quickens

U.S. crude-oil inventories fell by 4.6 million barrels for the week ended Dec. 22, while gasoline stockpiles climbed 0.6 million barrels, data released by the Energy Information Administration showed.

Power Plants Bloom Even as Electricity Prices Wilt

A glut of gas flowing out of U.S. shale fields is fueling a power plant construction boom in several northeastern states, despite fierce competition.

Shell, Barclays Detail Billions in Tax-Linked Charges

Royal Dutch Shell and Barclays Bank said they would take large charges attributable to the U.S. tax overhaul-joining a parade of global firms in recent days disclosing how American tax-bill changes will affect their bottom line.

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.

Cuomo Seeks Fossil-Fuel Divestment; Comptroller Disagrees

New York Gov. Andrew Cuomo says he will push for the state pension fund to exit its investments in fossil-fuel companies, but the official who controls the fund says the best way to address climate change is by leveraging shareholder power.

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.

(END) Dow Jones Newswires

December 29, 2017 11:15 ET (16:15 GMT)