Oil and Gas Coal and Consumable Fuels

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  • WASHINGTON, Jan 14- The Obama administration is preparing to announce as soon as Friday an overhaul of how the nation manages coal development on federal land, according to government and conservationist sources, in a further move to confront climate change. "We're working to have this tomorrow," said a Bureau of Land Management official who declined to give...

  • BEIJING, Jan 13- China's coal imports slumped 30 percent to 204.1 million tonnes in 2015, customs data showed on Wednesday, hit by a slowdown in domestic demand and a collapse in the price of locally produced coal. "Going into 2016, the overall theme will still be there, with demand still weak as China steers away from high energy-intensive industrial growth and...

  • NEW DELHI, Jan 13- Coal India Ltd is making its biggest tech overhaul in four decades to check rampant theft and shed its image as an inefficient behemoth, spurred by an impending opening up of the sector to private firms for the first time since the 1970 s. The state-run company's monopoly had allowed it to delay the use of modern technology common in international...

  • NEW YORK, Jan 11- U.S. shale oil production is expected to fall for a seventh month in a row in February, declining at about the same rate as the month before as drillers manage to eke out a few more barrels from each new well, U.S. data showed on Monday. Total output was set to decline by 116,000 bpd to 4.8 million bpd in February compared with January, a U.S. Energy...

  • Jan 11- The British Columbia government said on Monday it will formally oppose the expansion of Kinder Morgan Inc's Trans Mountain pipeline to Canada's west coast, another blow to oil sands producers already reeling from a global crude price crash. Kinder Morgan wants to nearly treble Trans Mountain's capacity to carry 890,000 barrels per day of crude from...

  • CHICAGO, Jan 11- Arch Coal, the second-largest U.S. coal miner, filed for Chapter 11 bankruptcy protection on Monday with a plan to cut $4.5 billion in debt from its balance sheet in the midst of a prolonged downturn in the coal industry. Missouri- based Arch Coal has been saddled with debt since its $3.4 billion acquisition of International Coal Group in 2011, which...

  • UPDATE 1-Arch Coal files for bankruptcy Monday, 11 Jan 2016 | 3:26 AM ET

    Jan 11- Arch Coal Inc, the second-largest coal miner in the United States, and its domestic subsidiaries filed for Chapter 11 bankruptcy to facilitate a restructuring with a group of lenders that hold more than 50 percent of its debt, the company said. The Missouri- based company was widely expected to go bankrupt after delaying a $90 million interest payment due...

  • Arch Coal files for bankruptcy Monday, 11 Jan 2016 | 2:40 AM ET

    Jan 11- Arch Coal Inc, the second-largest coal miner in the United States, and its domestic subsidiaries filed for Chapter 11 bankruptcy to facilitate a restructuring with a group of lenders that hold more than 50 percent of its debt, the company said. Arch Coal said on Monday it reached an agreement with its lenders that will eliminate more than $4.5 billion in...

  • *India plans to double coal production by 2020. NEW DELHI, Jan 8- India is getting ready to open up commercial coal mining to private companies for the first time in four decades, with the aim of shifting the world's third-biggest coal importer towards energy self-sufficiency. India has an ambitious plan to double its coal production to 1.5 billion tonnes a year by...

  • NEW YORK/ LONDON, Dec 31- Oil prices rose on Thursday but fell as much as 35 percent for the year after a race to pump by Middle East crude producers and U.S. shale oil drillers created an unprecedented global glut that may take through 2016 to clear. But for 2015, both benchmarks fell double-digits for a second straight year as Saudi Arabia and other members of the...

  • NEW YORK/ LONDON, Dec 31- Oil prices steadied on Thursday but were still headed for a second year of steep declines after a race to pump by Middle East crude producers and U.S. shale oil drillers created an unprecedented global glut that may take through 2016 to clear. Global oil benchmark Brent and U.S. crude's West Texas Intermediate futures were on track finish...

  • SAN FRANCISCO, Dec 29- A federal judge granted approval for coal producer Walter Energy Inc to reject its labor agreements and end retiree benefits, which the bankrupt U.S. company said was needed in order to sell off its operations, given the industry's dire straits. "The court finds credible that no potential buyers have an interest in assuming such obligations,...

  • *Demand is slowing in Europe and China. LONDON, Dec 29- Oil prices rose by $1 a barrel on Tuesday in thin trade amid prospects of colder weather in coming weeks but the outlook for 2016 remained bearish due to slowing global demand and abundant supplies from OPEC members. Both crude benchmarks are down by more than two-thirds since mid-2014 on U.S. shale oil output...

  • China's coal industry faces uncertain future Tuesday, 29 Dec 2015 | 6:24 AM ET
    China's coal industry faces uncertain future

    CNBC's Eurnice Yoon reports uncertainty in China's coal industry could have ripple effects throughout the Chinese economy as the country pledges to reduce pollution.

  • 2015’s top-performing metal is… Tuesday, 29 Dec 2015 | 3:10 AM ET
    2015’s top-performing metal is…

    Heard of uranium? It is this year’s top-performing mining commodity. Colin Hamilton, head of commodities research at Macquarie, discusses why he thinks it will outperform in 2016 as well.

  • LONDON, Dec 28- Uranium prices are expected to outperform other commodities in 2016 and beyond as a global climate change deal and growing demand from Asia bolster the prospects of the nuclear industry. Nuclear power stations currently provide around 11 percent of the world's electricity but the share is likely to increase as China and India expand their...

  • Pollution cancels more than 220 Beijing flights: Xinhua Saturday, 26 Dec 2015 | 12:36 AM ET
    A Chinese man walking on a street wears a mask amid heavy smog in Beijing, China on December 25, 2015. Hazardous smog blanketing China's north-east has sparked more red alerts, with authorities advising residents in 10 cities to stay indoors.

    More than 220 flights at Beijing's airport were canceled Friday as pollution caused poor visibility, China's official Xinhua news agency reported.

  • Dec 24- Global mining giant Anglo American Plc said it would sell its majority interest in Dartbrook coal mine to Australian Pacific Coal Ltd in a deal worth up to A $50 million. Anglo American, which owns an 83.3 percent stake in Dartbrook mine in New South Wales, Australia, said the deal would comprise of A $25 million in cash, with the rest being received in the form...

  • It's been a perfect storm for oil markets: ANZ Monday, 21 Dec 2015 | 8:24 PM ET
    It's been a perfect storm for oil markets: ANZ

    Oil markets are hurting due to strong supply and lower economic growth, particularly in Asia, and the price adjustment has yet to take place, notes Daniel Hynes, senior commodity strategist at ANZ.

  • China miners grit teeth over coal downturn Thursday, 17 Dec 2015 | 5:48 PM ET
    China miners grit teeth over coal downturn

    With coal prices down and demand weak, Qiu Zhijie, owner of Yongshun mine in Inner Mongolia, says "the more coal I sell, the more money I lose everyday."