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  • China to lay off 5M to 6M workers in coal, steel sectors

    The country aims to tackle industrial overcapacity and curb pollution.

  • March 1- For the first time in two years, U.S. oil companies are beginning to forecast stagnating, or even lower, production. According to a Reuters analysis, based on forecasts from 18 shale oil-oriented firms released over the past several weeks, oil and gas output is expected to fall 300,000 barrels or equivalent per day this year, which equates to a 5.6 percent...

  • 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...

  • In Texas, which is home to the Permian and Eagle Ford basins, output fell by 65,000 bpd to 3.34 million bpd, the biggest monthly decline since May 2015, putting production at the lowest level since October 2014. North Dakota production dropped by 27,000 bpd to 1.14 million bpd, the biggest monthly decline since January 2015 and the lowest output since August 2014.

  • NEW YORK, Feb 29- For leading U.S. shale oil producers, $40 is the new $70. Rival Whiting Petroleum Corp, the biggest producer in North Dakota's Bakken formation, will stop fracking new wells by the end of March, but would "consider completing some of these wells" if oil reached $40 to $45 a barrel, Chairman and CEO Jim Volker told analysts. The threat of a shale rebound is "...

  • Opportunities among railroad stocks

    Sanford Bernstein's David Vernon talks about what's driving railroad stocks and coal concerns.

  • China to lay off 1.8M workers in coal, steel sectors

    The country works to reduce industrial overcapacity and curb pollution.

  • Workers with Raven Drilling line up pipe while drilling for oil in the Bakken shale formation outside Watford City, North Dakota.

    Less than a year ago major shale firms were saying they needed oil above $60 a barrel to produce more; now some say they will settle for far less.

  • NEW YORK, Feb 29- For leading U.S. shale oil producers, $40 is the new $70. Rival Whiting Petroleum Corp, the biggest producer in North Dakota's Bakken formation, will stop fracking new wells by the end of March, but would "consider completing some of these wells" if oil reached $40 to $45 a barrel, Chairman and CEO Jim Volker told analysts. The threat of a shale rebound is "...

  • GRAND FORKS, N.D., Feb 29- In a basement lab of a North Dakota research center, Beth Kurz and an assistant are peering through a scanning electron microscope, studying samples from the state's vast Bakken shale oil formation. The University of North Dakota's Energy and Environmental Research Center where Kurz works has hired 20 more researchers and lab...

  • BEIJING, Feb 29- China expects to lay off 1.8 million workers in the coal and steel sectors as part of its efforts to reduce industrial overcapacity, an official at the human resources and social security ministry said on Monday. Yin Weimin, minister of human resources and social security, said capacity cuts will lead to some layoffs in 2016, but added that he was...

  • MOSCOW, Feb 28- The 26 miners who were trapped in a Russian coal mine above the Arctic circle have died and rescue operations have been halted after a third blast underground killed several rescue workers, emergency services said on Sunday. "The circumstances in the affected part of the mine did not allow anyone to survive," Russia's Emergencies Minister Vladimir...

  • MOSCOW, Feb 26- Twenty six miners were missing and four confirmed dead after an accident on Thursday at a coal mine above the Arctic circle owned by a subsidiary of Severstal, Russian prosecutors said on Friday. Announcing the opening of a criminal investigation into a possible breach of safety regulations at the Severnaya mine in Vorkuta, Russia's...

  • *Noble swings to annual loss of $1.67 bln. SINGAPORE, Feb 25- Singapore- listed Noble Group said it expects to refinance its revolving credit facility and reported its first annual loss in nearly 20 years, battered by a $1.2 billion writedown for weak coal prices. "We have self evidently advanced our key strategic objectives over the last three years despite a very...

  • SINGAPORE, Feb 25- Singapore- listed Noble Group reported its first annual loss in nearly 20 years on Thursday, battered by a $1.2 billion writedown on weak coal prices, and said it expects to successfully refinance its revolving credit facility. Noble swung to a net loss of $1.67 billion for the year to Dec. 31 versus a profit of $132 million a year earlier on a 22...

  • HOUSTON, Feb 24- Royal Dutch Shell's U.S. head Marvin Odum will step down after the company abandoned a troubled drilling project offshore Alaska, and the global oil company said on Wednesday it will split up its U.S. shale and Canadian oil sands unit. The Anglo-Dutch company said on Wednesday its shale resources unit would become part of the global upstream...

  • A coal mound stands at the Appalachian Electric Power coal-fired Big Sandy Power Plant in Catlettsburg, Kentucky, in 2014. The plant shuttered its coal production last year and converted to natural gas.

    No matter who gets appointed to the Supreme Court, there is only one fate for the U.S. coal industry, according to labor and economic data.

  • Moody's lowers Noble rating after profit warning

    Moody's Investors Service downgrades Noble Group to Ba3.

  • WASHINGTON, Feb 23- The ailing coal industry must face the costs of cleaning up spent mines even as companies get pushed toward bankruptcy, the U.S. Bankrupt Alpha Natural Resources and Arch Coal have sought to jettison cleanup liabilities in bankruptcy court and Interior Secretary Sally Jewell said officials will not tolerate such maneuvers.

  • WASHINGTON, Feb 23- Struggling coal companies must face the costs of cleaning up their spent mines even as they get pushed toward bankruptcy, the U.S. Jewell was addressing the Senate Committee on Energy and Natural Resources. Of the roughly $2 billion in future cleanup costs facing Peabody Energy Corp, $1.47 billion of that is self-bonded and has no concrete...