Oil and Gas Coal and Consumable Fuels

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  • DENVER, March 10- Whiting Petroleum Corp expects its credit line to be cut by more than $1 billion in an early May loan review, Chief Executive Jim Volker said on Thursday, the latest industry fallout from low oil prices crimping margins and fueling massive spending cuts. Whiting, the largest oil producer in North Dakota's Bakken shale formation, had $2.7 billion...

  • Senators Maria Cantwell of Washington and Dick Durbin of Illinois are seeking an "audit of self-bonding" in the coal industry and a review of how the oil, gas and mineral sectors protect taxpayers from cleanup costs. The Government Accountability Office is an independent, non-partisan investigative arm of Congress. Interior Department Secretary Sally...

  • TORONTO, March 8- Several of the world's biggest uranium producers say they are taking a cautious approach to building new mines, preferring to shave expenses and wait for higher prices despite forecasts for a supply shortfall by the end of the decade. France's state-owned Areva SA will trim 100 to 200 more jobs this year and stay out of the hunt for new mine...

  • TORONTO, March 8- France's state-owned Areva SA will focus on cost-cutting in a prolonged uranium slump, trimming 100 to 200 more jobs this year and staying out of the hunt for new mine exploration projects, a senior company official said on Tuesday. The company is scheduled to present on Wednesday in Toronto during the annual Prospectors& Developers...

  • CAPE TOWN, March 8- South Africa will give the green light in the next 12 months to companies looking to explore for shale gas under the semi-arid Karoo basin, the government said on Tuesday, more than six years after firms such as Shell applied for licences. Royal Dutch Shell, Falcon Oil& Gas and Bundu Gas& Oil are among five companies which have applied for...

  • NEW YORK, March 7- U.S. shale oil production in April is expected to chalk up the second-largest monthly decline on record, and the sixth straight monthly decrease, a U.S. government forecast released on Monday showed. Total output is expected to fall by 106,000 barrels per day to 4.87 million bpd, according to the U.S. Energy Information Administration's drilling...

  • TORONTO, March 7- Cameco Corp is slowly expanding the world's biggest uranium mine, betting utilities that are currently well-supplied will need the radioactive metal in coming years, Chief Executive Officer Tim Gitzel said on Monday. Cameco's McArthur River mine in northern Saskatchewan is expected to produce 20 million pounds this year but is licensed for...

  • ULAANBAATAR, March 7- Mongolia has settled a dispute over an arbitration award that required it to pay more than $100 million last year to a Canadian miner for revoking a uranium mining license, just as it launches a push this week to attract new exploration interest. Mongolian Finance Minister Bolor Bayarbaatbar said in a statement released by Khan late on...

  • BEIJING, March 6- Struggling state-owned firms need to force through urgent reforms before things get worse, with revenues at local governments no longer sufficient to bail them out, the governor of the Chinese rustbelt province of Heilongjiang said on Sunday. Economic growth in Heilongjiang, which borders Russia, reached 5.7 percent in 2015, but it is...

  • *China to keep 2020 energy consumption to 5 bln T standard coal. BEIJING, March 5- China aims to keep energy consumption within 5 billion tonnes of standard coal equivalent by 2020, it said in its five-year plan published on Saturday, marking the first time the world's second-biggest economy has set such a target. China has long been considering an energy...

  • BEIJING, March 5- China aims to keep energy consumption within 5 billion tonnes of standard coal equivalent by 2020, it said in its latest five-year plan published on Saturday, marking the first time the world's second-biggest economy has set such a target. China has long been considering an energy consumption cap in a bid to improve industrial efficiency,...

  • BEIJING, March 5- China will limit coal production and coal-fired power generation capacity this year, and keep total energy consumption under control, the country's top economic planner said in a work report at the opening of the annual meeting of parliament. The National Development& Reform Commission also said China will cut emissions of carbon dioxide for...

  • BOGOTA, March 3- Union workers at Colombia's largest coal mine, Cerrejon, have voted in favor of a strike, the union said on Thursday, in a dispute with the company over wages and benefits. Cerrejon is a joint venture between Australia- based BHP Billiton Ltd, London- and Johannesburg- based Anglo American Plc and Swiss-based Glencore Xstrata. It has been producing...

  • *Australia's youngest billionaire Nathan Tinkler goes bust. SYDNEY, March 3- Rags-to-riches coal baron Nathan Tinkler, who rode the mining boom to become Australia's youngest billionaire before losing it all when coal prices collapsed, has been declared legally bankrupt after failing to pay off a private jet. The bankruptcy order comes 10 years after the 40-...

  • JOHANNESBURG, March 3- South African coal miner Exxaro Resources is considering buying assets from Anglo American, its chief executive said on Thursday. Headline earnings per share- the key measure of profit which strips off certain one-off items- reached 457 cents from 1,372 cents in the previous year, meeting expectations forecast by Thomson Reuters...

  • JOHANNESBURG, March 3- South African coal miner Exxaro Resources said on Thursday its full-year profit dropped by two-thirds due to a sharp fall in commodity prices. Headline earnings per share- a measure of profit which strips off certain one-off items- reached 457 cents from 1,372 cents in the previous year. Exxaro cut spending on a five-year program to 2020 by...

  • *Australia's youngest billionaire Nathan Tinkler goes bust. SYDNEY, March 3- Rags-to-riches coal mining baron Nathan Tinkler, who rode the mining boom to become Australia's youngest billionaire before losing it all when coal prices collapsed, has been declared legally bankrupt after failing to pay off a private jet. He toyed with the idea of going to...

  • SYDNEY, March 3- Rags-to-riches coal mining baron Nathan Tinkler, who rode the mining boom to become Australia's youngest billionaire before losing it all when coal prices collapsed, has been declared legally bankrupt after failing to pay off a private jet. The bankruptcy order comes 10 years after the 40- year-old former mining electrician scraped together...

  • March 1- In the 16 months since Oklahoma oilman Harold Hamm dismissed OPEC as a "toothless tiger" because of growing U.S. energy independence, shares in his Oklahoma City- based Continental Resources Inc, a major shale oil driller, have fallen about 60 percent. Whether or not the Organization of the Petroleum Exporting Countries has been defanged, it has been unable...

  • March 1- In a ray of hope for oil bulls, leading U.S. shale producers are at last predicting output declines this year- a long-anticipated turning point for a market reeling from an epic supply surplus. In contrast, the U.S. Energy Information Administration is forecasting an 11 percent drop in national production outside of Alaska and the Gulf of Mexico, where...