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News Highlights : Top Energy News of the Day

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01/02/2018 | 05:16pm CET
Oil Holds Near Two-Year High, Eyes on Iran 
 

Oil prices edged off a 2 1/2 -year high after supply disruptions eased in the North Sea and Libya, while rising tensions in major oil exporter Iran underpinned the market.

 
BP Takes $1.5 Billion Charge Related to U.S. Tax Overhaul 
 

BP is joining a host of companies whose earnings will be dented by the U.S. tax overhaul, saying it would suffer a roughly $1.5 billion accounting charge in the fourth quarter because of the legislation.

 
Seoul Seizes Second Ship Suspected of Transferring Oil to North Korea 
 

South Korean authorities detained another ship suspected of transferring oil to North Korea in violation of U.N. sanctions.

 
Glencore Sells Australian Coal Mine to GFG Alliance 
 

Glencore has agreed to sell an underground coal mine in eastern Australia to GFG Alliance, an industrial conglomerate that last year picked up steel and iron-ore mining assets in the country.

 
Oil Prices Expected to Keep Rising in 2018, but It Could Be a Rocky Ride 
 

Oil prices are likely to continue climbing in 2018 on the back of OPEC-led production cuts and a growing global economy, industry executives and analysts say. But any gains are expected to be kept in check by booming supplies from the U.S.

 
Sharp Reversal: Natural-Gas Investors Are on Edge 
 

Investors wagered on a natural-gas rally last year but it never came. Instead, prices plunged 21% for the worst year since 2014.

 
Free Trade Has Been a Boon for Energy Independence 
 

Nafta delivers a triple win for the U.S., Canadian and Mexican oil and natural-gas industries.

 
Proposed Changes to Offshore Drilling Rules Raise Questions 
 

The Trump administration's proposed changes to offshore oil drilling rules are raising fundamental questions over whether safety regulators at the Interior Department should also be concerned with promoting oil and gas production.

 
U.S. Oil-Rig Count Unchanged in Latest Week 
 

The number of rigs drilling for oil in the U.S. remained unchanged this week at 747, Baker Hughes, a GE company, reported.

 
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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