Oil and Gas Coal and Consumable Fuels

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  • Wyoming, Arch Coal reach bankruptcy bonding deal Wednesday, 10 Feb 2016 | 4:49 PM ET

    CHEYENNE, Wyo.— Wyoming regulators have reached a deal with Arch Coal to accept up to $75 million in place of the company's $486 million in bonding obligations in the state while the company goes through Chapter 11 bankruptcy. Among Arch's two active mines in Wyoming is Black Thunder, one of the world's largest coal complexes. For years, an ongoing agreement...

  • NEW YORK, Feb 10- The U.S. Supreme Court's decision to block federal regulations to curb carbon dioxide emissions failed to give a sustained boost to shares of the long-battered coal sector on Wednesday. After initially trading higher, Consol Energy Inc stock slipped 2.3 percent, and Peabody Energy Corp fell 0.9 percent. The states, led by coal producer West...

  • CALGARY, Alberta, Feb 9- Faced with record low prices for heavy crude, Canadian energy companies are sacrificing other parts of their business to keep higher-cost oil sands production going and safeguard the billions already invested in these multi-decade projects. Although the move to support higher-cost production seems counterintuitive, oil sands...

  • NEW YORK, Feb 10- Long-battered shares of coal companies jumped on Wednesday after the U.S. Supreme Court put on hold federal regulations to curb carbon dioxide emissions mainly from coal-fired power plants. The court's 5-4 ruling on Tuesday delivered a major blow to President Barack Obama, by blocking the centerpiece of his administration's strategy to...

  • U.S. shale oil output to double by 2035 - BP Wednesday, 10 Feb 2016 | 10:00 AM ET

    LONDON, Feb 10- U.S. shale oil production will double over the next 20 years as drillers that became more efficient amid a slump in oil prices unlock new resources, British energy giant BP said on Wednesday. The sector, with relatively expensive production costs, has nevertheless been hard hit by a 70 percent decline in oil prices over the past 18 months to around $30...

  • WASHINGTON, Feb 9- The U.S. Supreme Court on Tuesday delivered a major blow to President Barack Obama by blocking federal regulations to curb carbon dioxide emissions from power plants, the centerpiece of his administration's strategy to combat climate change. The states, led by coal producer West Virginia and oil producer Texas, and several major business...

  • CALGARY, Alberta, Feb 9- Faced with record low prices for heavy crude, Canadian energy companies are sacrificing other parts of their business to keep higher-cost oil sands production going and safeguard the billions already invested in these multi-decade projects. Although the move to support higher-cost production seems counterintuitive, oil sands...

  • Spot prices of uranium, used to make fuel for nuclear power production, have been depressed since the 2011 Fukushima disaster in Japan, which led to the shutdown of all reactors in that country, generating burdensome stockpiles globally. Its stock plunged more than 5 percent in Toronto and New York around midday. Contracting looks to significantly pick up in...

  • South Africa aims to lift coal exports to India Friday, 5 Feb 2016 | 9:45 AM ET

    *South Africa looks to India to maintain record exports. CAPE TOWN, Feb 5- South Africa is hoping to boost coal exports to India after shipping a record 75.4 million tonnes of coal last year, industry officials said on Friday, as a drop in exports from rival Indonesia opens up the chance to grab market share. A drop in Indonesian exports to India, which imported around...

  • LONDON, Feb 5- Even as millions of barrels of oil are pumped at a loss at current prices, only a fraction of the production has been shut, industry research group Wood Mackenzie said on Friday. Just 100,000 bpd out of the 96.1 million bpd of oil pumped worldwide have been closed so far since the price plunge, most of it in Canada's oil sands, conventional U.S. projects and...

  • HOUSTON, Feb 3- The latest blow to the energy industry's collective psyche has been inflicted by National Oilwell Varco Inc, with the giant oilfield equipment maker warning the pace of drilling and fracking will only slow further as 2016 drags on. A 70 percent drop in crude prices since mid-2014 has affected not only National Oilwell Varco but dozens of others...

  • HOUSTON, Feb 3- The latest blow to the energy industry's collective psyche has been inflicted by National Oilwell Varco Inc, with the giant oilfield equipment maker warning the pace of drilling and fracking will only slow more as 2016 drags on. A 70 percent drop in crude prices since mid-2014 has affected not only NOV but dozens of others throughout North...

  • Lawmakers seek $1 billion for struggling coal states Wednesday, 3 Feb 2016 | 2:53 PM ET

    Hal Rogers, chairman of the House Appropriations Committee and one of the bill's sponsors, said the measure has bipartisan support and was crafted with help from the White House. The $1 billion taken from the Abandoned Mine Reclamation Fund would be used for economic development— tourism, infrastructure, new business— on or near sites that have been deemed...

  • New federal coal mine dust rules taking effect Monday, 1 Feb 2016 | 9:58 AM ET

    The U.S. Mine Safety and Health Administration is requiring coal operators to increase the number of air samples taken in underground mines. The United Mine Workers of America has supported it, saying the rule will reduce the incidence of black lung among workers. The National Mining Association, an industry group, has opposed the new rule, saying the increased...

  • GILLETTE, Wyo.— Like a trusty pickup truck, Gillette has bounced through tough times before and pulled through, thanks to coal. President Barack Obama's administration has ordered a three-year moratorium on sales of federal coal reserves, and it's putting a rare mood on folks in Gillette, a ranching-turned-energy town of 32,000: pessimism.

  • CALGARY, Jan 29- Alberta's left-leaning government unveiled a new energy royalty framework on Friday that left rates unchanged on existing oil wells and oil sands projects, alleviating fears that costs would rise to punishing levels amid the worst crude price slump in decades. Alberta Premier Rachel Notley noted the province's position in the global market...

  • Gulf of Mexico output fell 57,000 bpd, while onshore production inched up 3,000 bpd in Texas and rose 5,000 bpd in North Dakota, broadly in line with previously reported state data. Some analysts believed the data is not necessarily a reflection of the current supply landscape, saying the Gulf of Mexico output was lower in November but still higher year over year.

  • Drillers removed 12 oil rigs in the week ended Jan. 29, bringing the rig count down to 498, the least since March 2010, oil services company Baker Hughes Inc said. Three major U.S. shale oil companies this week slashed their 2016 capital spending plans more than expected in a bid to survive $30 a barrel oil prices, with Continental Resources saying prices would need...

  • LONDON, Jan 29- Saudi Arabia has successfully defended its share of the U.S. oil market even as rising domestic production from shale and growing pipeline imports from Canada have cut seaborne imports from other countries. Saudi Arabia has been fortunate in that the oil produced from shale is not in direct competition with its own crude exports.

  • The company said it would temporarily idle its Harvey coal mine in southwestern Pennsylvania. Net income attributable to Consol fell to $30.4 million, or 13 cents per share, in the quarter ended Dec. 31, compared with a profit of $73.67 million, or 32 cents per share, a year earlier. Revenue fell nearly 19 percent to $761.9 million, missing Wall Street expectations of...