Oil and Gas Coal and Consumable Fuels

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  • *Iran to lead supply growth within OPEC. LONDON, Feb 22- Oil production in the United States will reach a record high by 2021 as improved efficiency helps domestic producers combat the low prices that are likely to force hefty output cuts this year and next, the International Energy Agency said on Monday. U.S. shale oil was the main target of OPEC's decision in late...

  • NEW YORK, Feb 22- Oil markets jumped as much as 7 percent on Monday as speculation about falling U.S. shale output and a rally in equities fed the notion that crude prices may be bottoming after their 20- month collapse. "For various reasons, traders are growing convinced that the market won't go much lower," said Pete Donovan, crude broker at Liquidity Energy in New...

  • LONDON, Feb 22- Oil prices rose 7 percent on Monday after the world's oil consumer body said it expected U.S. shale production to fall this year and next, potentially reducing the glut in supplies that has cut prices by 70 percent in 18 months. International benchmark Brent crude futures were up $1.68, or 5.1 percent, at $34.69 a barrel at 1501 GMT, while U.S. crude...

  • Feb 22- Wall Street was higher on Monday as prices of crude oil and other commodities surged, pointing to an uptick in investors' risk appetite following a rout in global markets. Crude prices were up more than 5 percent after data showed a fall in U.S. rig counts and the International Energy Agency said it expects U.S. shale oil output to fall. "You've seen oil rebound...

  • *Iran to lead supply growth within OPEC. LONDON, Feb 22- Oil production in the United States will reach a record high by 2021 as efficiency gains help domestic producers to combat the low prices that are likely to force hefty output cuts this year and next, the International Energy Agency said on Monday. U.S. shale oil was the main target of OPEC's 15- month-old policy...

  • Feb 22- Wall Street was on track to open sharply higher on Monday as prices of crude oil and other commodities surged, pointing to an uptick in investors' risk appetite following a rout in global markets. Crude prices were up more than 5 percent after data showed a fall in U.S. rig counts and the International Energy Agency said it expects U.S. shale oil output to fall.

  • LONDON, Feb 22- Oil prices rose 5 percent on Monday after the world's oil consumer body said it expected U.S. shale production to fall this year and next, potentially reducing the glut in supplies that has driven prices to their lowest level in over a decade. International benchmark Brent crude futures were up $1.61, or 4.9 percent, at $34.62 a barrel at 1326 GMT, while...

  • *Crude prices were up more than 3 percent after data showed a fall in U.S. rig counts and the International Energy Agency said it expects U.S. shale oil output to fall. *Global stocks rose on the jump in oil prices and as weak data on private business activity in the euro zone stoked expectations of a further easing of monetary policy by the European Central Bank.

  • LONDON, Feb 22- Oil rose after the world's oil consumer body said on Monday it expected U.S. shale production to fall this year and next, potentially easing a glut that has driven prices to their lowest in more than a decade. International benchmark Brent crude futures were up $1.05, or 3.2 percent, at $34.06 a barrel at 1134 GMT, while U.S. crude futures broke through...

  • "OPEC, instead of cutting production, they increased production, and that's the predicament we're in right now," Bill Thomas, chief executive of EOG Resources Inc, one of the largest U.S. shale oil producers, told an industry conference last week, referring to 2015.. It will be Naimi's first public appearance in the United States since Saudi Arabia led the...

  • WASHINGTON, Feb 17- A program that has allowed U.S. coal companies to forego cleanup insurance on massive western mines is flawed and needs to be fixed, Wyoming officials have told federal regulators. Coal operator Alpha Natural Resources Inc left behind more than $670 million in self-bond liabilities in Wyoming and West Virginia when it filed for bankruptcy...

  • PRAGUE, Feb 17- The Czech government will not inject money into struggling coal miner New World Resources and will only provide support for miners who lose their jobs, not bondholders, its industry minister said on Wednesday. "We will not provide a single crown" Industry Minister Jan Mladek told Reuters in an interview. A slump in coal prices has forced the company...

  • *Anglo aims to raise $4 bln asset sales in 2016 to pay debt. JOHANNESBURG, Feb 16- Anglo American said on Tuesday it plans to sell its iron ore, coal and nickel units as part of a sweeping strategic overhaul to cope with a commodities rout that has triggered a fight for survival even among heavyweight miners. Anglo wants to raise as much as $4 billion from the sale of...

  • JOHANNESBURG, Feb 16- Anglo American plans to completely exit its coal business, Chief Executive Mark Cutifani said on Tuesday as part of strategic changes to cope with a global commodities rout.

  • MELBOURNE/ VANCOUVER, Feb 16- New technology is helping miners cut costs to survive the worst downturn in commodity prices in nearly two decades, which is good news for companies that might otherwise have gone to the wall, not so good for an industry drowning in overcapacity. Commodity prices from coal to zinc are down in some case as much as 80 percent from record...

  • Global depression ahead?

    Insight to what's going on in the Baltic Exchange Dry Index, and the state of shipping in the U.S., with Robert Perri, AXIA Capital Markets.

  • The challengers say the EPA has no authority under the 1970 Clean Air Act to expand its regulation of power plants outside the facilities themselves. Jeff Holmstead, a lawyer representing the coal industry in the legal challenge, said that the provision of the Clean Air Act the EPA is focusing on has only been used previously to set air pollution standards for...

  • 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...