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Oil and Gas Coal and Consumable Fuels

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  • CALGARY, Alberta, Aug 31- The Canadian province of Alberta, which has been hammered by falling crude prices, is forecasting a record budget deficit of C $5.9 billion this year, which could increase to C $6.5 billion, Finance Minister Joe Ceci said on Monday. Alberta, home to Canada's oil sands and the largest source of U.S. crude imports, has struggled with a sharp drop...

  • *U.S. billionaire Warren Buffett "jumpstarted" the project. *Kazakhstan suffered from Soviet-era nuclear tests. ASTANA, Aug 27- The International Atomic Energy Agency and Kazakhstan signed an agreement on Thursday to locate the first internationally-controlled bank of low-enriched uranium in the ex-Soviet nation to ensure fuel supplies for power stations...

  • *U.S. billionaire Warren Buffett "jumpstarted" the project. *Kazakhstan suffered from Soviet-era nuclear tests. ASTANA, Aug 27- The International Atomic Energy Agency and Kazakhstan signed an agreement on Thursday to locate the world's first bank of low-enriched uranium in the ex-Soviet nation to ensure fuel supplies for power stations and prevent nuclear...

  • UPDATE 1-Vale sells another coal mine in Australia Wednesday, 26 Aug 2015 | 11:03 PM ET

    RIO DE JANEIRO/ SYDNEY, Aug 26- Brazilian mining giant Vale has continued its disposal of non-core holdings, agreeing to sell a mothballed coal mine in Australia jointly to Glencore Plc and Bloomfield Group for an undisclosed sum. Vale in July sold another coal mine in Australia to a local operator for A $1 amid a sector downturn that has claimed thousands of jobs...

  • JOHANNESBURG, Aug 26- South Africa's Eskom said on Wednesday it wants compensation from Glencore's mining subsidiary Optimum if it is unable to supply coal to its Hendrina power plant. Administrators for Glencore's South African coal mining subsidiary suspended the firm's supply agreement with Eskom last Thursday while the mining unit undergoes a...

  • BILLINGS, Mont.— U.S. and China officials took a major step Tuesday toward an agreement to advance "clean coal" technologies that purport to reduce the fuel's contribution to climate change— and could offer a potential lifeline for an industry that's seen its fortunes fade. The agreement between the U.S. Department of Energy and China's National Energy...

  • Commodity markets tumble as China weakness spreads Sunday, 23 Aug 2015 | 9:26 PM ET

    SINGAPORE, Aug 24- Commodities markets hit fresh lows in early Asian trading on Monday as fears spread that a more severe slowdown in China would pull down other economies in the region, denting energy and raw material consumption. West Texas traded below $40 a barrel and Brent around $45 per barrel at 0115 GMT. In coal, the most used source for electricity...

  • BOOK CLIFFS, Utah— On a remote Utah ridge covered in sagebrush, pines and wild grasses, a Canadian company is about to embark on something never before done commercially in the United States: digging sticky, black, tar-soaked sand from the ground and extracting the petroleum. Across the rolling green hills of the Book Cliffs of eastern Utah, about 165 miles from Salt...

  • Santos axes CEO, hoists sale sign as LNG slides Thursday, 20 Aug 2015 | 11:37 PM ET
    A natural gas production platform.

    Australia's Santos put itself up for sale on Friday after receiving approaches and moved to replace its embattled CEO.

  • *Glencore's coal mine unit in cash-crunch due to Eskom deal. JOHANNESBURG, Aug 20- Administrators for Glencore's South African coal mining subsidiary suspended the firm's supply agreement with national power utility Eskom on Thursday while the mining unit undergoes a financial rescue programme. The Glencore unit sells half its output to Eskom's 2,000-...

  • *Glencore's coal mine unit in cash-crunch due to Eskom deal. JOHANNESBURG, Aug 20- Glencore's South African coal mining subsidiary suspended its supply agreement with national power utility Eskom on Thursday while the mining unit undergoes a financial rescue programme, its administrators said. The Glencore unit sells half its output to Eskom's 2,000-...

  • MEXICO'S PEMEX SAYS IT WILL IMPORT LIGHT CRUDE FROM THE U.S., WHICH COULD BE EITHER SHALE OIL OR OTHER CONVENTIONAL LIGHT CRUDES- PMI CEO.

  • Reflecting plans announced in May and June, when U.S. crude futures averaged $60 a barrel, drillers added two oil rigs in the week ended Aug. 14, bringing the total count up to 672, the highest since early May, oil services company Baker Hughes Inc said in its closely followed report. Drillers added oil rigs in two of the four major U.S. shale oil basins, with five in the...

  • Goldman out of mining with Colombia coal sale Friday, 14 Aug 2015 | 12:03 AM ET
    A mile-long train loaded with coal rolls out of the Spring Creek Mine in Montana headed for Detroit.

    Goldman has sold its Colombia coal unit to privately held Murray Energy, concluding the Wall Street firm's divestment of physical commodity assets.

  • NEW YORK, Aug 13- Goldman Sachs has sold its controversial Colombia coal mining division to privately held Murray Energy, Murray said on Thursday, concluding the Wall Street firm's divestment of physical commodity assets. Murray did not provide terms and a Goldman Sachs spokesman declined to comment on the sale price. In recent years, Goldman Sachs and Morgan...

  • Goldman Sachs sells Colombia coal unit to Murray Energy Thursday, 13 Aug 2015 | 7:03 PM ET

    NEW YORK, Aug 13- Goldman Sachs has sold its controversial Colombia coal mining division to privately held Murray Energy, Murray said on Thursday, concluding the Wall Street giant's divestment of physical commodity assets. Ohio- based coal giant Murray Energy has acquired Colombia Natural Resources, which includes two surface mines, three undeveloped mines...

  • LONDON, Aug 13- China's devaluation of the yuan may hit already oversupplied world commodity markets, as the surprise move increases the chances that the world's biggest coal importer will become a net exporter. China was one of the world's largest thermal coal exporters until around 2004 when rocketing demand at home helped drive the need for imports.

  • Shale is more expensive to produce than oil from the giant conventional fields of the Middle East but cheaper than deepwater megaprojects and competes directly against the North Sea and Canada's oil sands. Megaprojects developed by the major international companies must now be benchmarked at prices of just $70 or even $50 a barrel rather than the $80- $100...

  • Australia a long way from saying goodbye to coal Wednesday, 12 Aug 2015 | 2:16 AM ET

    Standard Chartered became the second bank to walk away from a huge Australian coal project, but the country's production rate is still rising.

  • Even as banks walk away, coal on the rise in Australia Tuesday, 11 Aug 2015 | 5:59 AM ET

    Clean Power Plan unveiled last week aims to shift the fuel generation mix dramatically away from coal- production is rising in Australia. "To say coal mining will stop in Australia is unrealistic," said James Wilson, an analyst with Morgans Financial in Perth, noting that some of the biggest and most efficient mines in the world are located in the country.