Oil and Gas Coal and Consumable Fuels

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  • *Q1 operating loss of C $0.51 vs. estimates of C $0.40. CALGARY, Alberta, April 27- Cenovus Energy Inc said on Wednesday it needs more clarity from the Canadian government on pipeline and environmental issues before possibly reactivating oil sands projects that have been deferred because of the crude price rout. Cenovus has postponed its Narrows Lake oil sands...

  • CHARLESTON, W.Va.— Prosecutors are urging a federal appeals court not to allow former coal company executive Don Blankenship to remain free next month while the court considers his appeal. Attorney Steve Ruby wrote in a filing submitted Monday night to the 4th U.S. Circuit Court of Appeals. Blankenship was sentenced April 6 to a year in prison and ordered to pay a...

  • Hess, which produces oil in North Dakota's Bakken Shale and the U.S. Gulf of Mexico, said average realized price for crude fell 36.8 percent to $28.50 per barrel in the quarter. Net loss attributable to Hess widened to $509 million, or $1.72 per share, in the quarter ended March 31, from $389 million, or $1.37 per share, a year earlier.

  • SAN FRANCISCO, April 26- Stanford University's announcement on Monday that it will not rid its $22 billion endowment of oil and gas companies has raised the ire of campus climate activists, who said on Tuesday they will protest the decision. Activists felt they had momentum on their side after Stanford two years ago said it would no longer invest in coal mining...

  • CHARLESTON, W.Va.— Coal producer Murray Energy Corp. is challenging the U.S. Environmental Protection Agency's final rule that targets mercury pollution from power plants. The U.S. Supreme Court ruled last year that the EPA should have considered the costs and benefits before imposing limits on mercury and other air pollutants from coal- and oil-fired power...

  • LAUNCESTON, Australia, April 26- Australia and Russia could emerge the relative winners if China does restrict imports of North Korean coal, as it has pledged to do. China banned the importation of several minerals from North Korea on April 5, including coal, as part of new United Nations sanctions on Pyongyang aimed at curbing the rogue state's nuclear weapons...

  • Canada's biggest railroad, which reported a 4.3 percent fall in first-quarter revenue, said it now expected 2016 adjusted earnings per share to match last year's C $4.44. Reduced freight volumes due to a slump in oil prices, a string of bankruptcies in the coal industry and increased competition from trucks have been weighing on railroad operators in Canada...

  • *China to encourage coal, steel capacity drive overseas. *Japan concerned at rise in China steel exports. BEIJING, April 21- As part of efforts to ease domestic steel and coal overcapacity, widely blamed for triggering a global industry crisis, China said it will do more to help its firms shift capacity overseas while keeping tight control on adding new capacity at...

  • *China also to boost state support for shifting capacity overseas. BEIJING, April 21- China will strictly control credit available for new capacity additions in the steel and coal sectors, both of which are suffering from price sapping supply gluts, the government said on Thursday. It was unclear whether the government planned to encourage greater exports of...

  • CHARLESTON, W.Va.— Prosecutors say former coal company executive Don Blankenship has to head to prison on May 12, pending an appeal. Prosecutors mentioned the ex-Massey Energy CEO's date to surrender to federal custody in a 4th U.S. Circuit Court of Appeals filing on Wednesday. Blankenship was sentenced April 6 to the maximum penalties of a year in prison and a...

  • NEW DELHI, April 20- Developed countries should raise taxes on coal production to help raise money for a $100 billion- a-year fund that is supposed to help poorer countries tackle climate change but are short of cash, India's environment minister said on Wednesday. An agreement to finance the fund was a major part of the landmark Paris climate change accord...

  • BENLD, Ill.— It's been more than 60 years since the last coal mine closed in the south-central Illinois town of Benld, but its legacy is found in the name of its high school teams— the Miners— and its economic development promoting arm, the Coal County Chamber of Commerce. So, when an environmental group came to town to pitch a severance tax on coal mined in Illinois that...

  • BEIJING, April 18- China will reduce the number of statutory working days for its coal miners to 276 a year from 330 as it bids to tackle a chronic supply glut that has sapped prices, the country's work safety watchdog said on Monday. With demand on the wane and mining firms facing widespread losses, China plans to shut down 500 million tonnes of coal production...

  • Energy Information Administration estimates coal production to fall 16 percent in 2016, which would be the largest annual percentage decline since 1958.. April 13, 2016: World's biggest private-sector coal producer, Peabody Energy Corp, filed for U.S. bankruptcy protection after it was unable to service its $10.1 billion debt it incurred mostly for an...

  • CHICAGO, April 15- U.S. shale oil producer Goodrich Petroleum Corp said on Friday that it filed for Chapter 11 bankruptcy protection with a plan to eliminate $400 million in debt from its balance sheet while it rides out a slump in commodities markets. The Houston- based exploration and production company, which has shale assets in Texas, Louisiana and...

  • *Poland asks creditors to convert debt to equity. WARSAW/ BRUSSELS, April 15- For generations, the region of Silesia has been at the heart of Poland's love affair with coal as a source of pride and heroism. Election to Poland's top job has depended on maintaining coal's special national status and Prime Minister Beata Szydlo, a coal miner's daughter from Silesia,...

  • BEIJING, April 15- China produced 294 million tonnes of coal in March, down 4.5 percent from a year ago amid state-led efforts to restrict production and tackle a supply glut. Prices at the port of Qinhuangdao in Hebei province have gained 5.4 percent so far in 2016, suggesting that China's efforts to curb supplies are having an impact, although the values are...

  • CALGARY, Alberta, April 14- The Canadian crude-producing province of Alberta said on Thursday it will post a C $10.4 billion budget deficit this fiscal year and warned that a surplus might not return until 2024 as the oil price slump batters its economy. Alberta, home to Canada's oil sands and the No. 1 exporter of crude to the United States, has been hammered by a...

  • CALGARY, Alberta, April 14- The Canadian crude-producing province of Alberta said on Thursday it will post a C $10.4 billion budget deficit this fiscal year and warned that a surplus might not return until 2024 as the oil price slump batters its economy. Alberta, home to Canada's oil sands and the No. 1 exporter of crude to the United States, has been hammered by a...

  • April 13- Leading global coal producer Peabody Energy Corp filed for U.S. bankruptcy protection on Wednesday after a sharp drop in coal prices left it unable to service debt of $10.1 billion, much of it incurred for an expansion into Australia. The Chapter 11 bankruptcy filing from Peabody, the world's biggest private-sector coal producer, ranks among the...