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Oil and Gas Coal and Consumable Fuels

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  • Oil production from the largest U.S. shale plays will plunge in August for a fourth consecutive month, forecasts from the U.S. Energy Information Administration showed on Monday. Energy firms fired thousands of workers and cut back on new drilling after U.S. crude futures collapsed 60 percent from over $107 a barrel in June 2014 to near $42 in March on oversupply...

  • July 13- Oil production from the largest U.S. shale plays is forecast to plunge some 72,000 barrels per day in August compared with the previous month, data from the U.S. Energy Information Administration showed on Monday. Oil production from the Permian play of West Texas and New Mexico, however, is expected to rise 5,000 bpd to 2.05 million bpd, according to the...

  • Drillers added oil rigs in two of the four major U.S. shale oil basins- eight rigs in the Permian in West Texas and eastern New Mexico and one in the Niobrara in Colorado and Wyoming- and cut five rigs each in the other two basins- the Eagle Ford in South Texas and the Bakken in North Dakota and Montana. On Friday, crude futures traded between $52 and $54 a barrel in see-saw...

  • Teck delays high-cost Canada oil sands project Friday, 10 Jul 2015 | 10:44 AM ET

    TORONTO, July 10- Teck Resources Ltd is delaying development of its massive, high-cost Frontier oil sands project in northern Alberta by five years at a time when oil prices show few signs of recovering from current depressed levels. Construction of the 260,000 barrel-a-day bitumen mine is planned to start in 2019 and occur in two phases, rather than four, to take...

  • WILLISTON, N.D./ HOUSTON, July 9- A handful of optimistic U.S. shale drillers are sticking with plans to deploy more rigs in the coming months even as oil prices take a sharp dive well below many producers' $60- a-barrel breakeven point. On Wednesday, Pioneer Natural Resources Co. became the first big company to publicly confirm it was drilling more wells, saying it had...

  • By Tuesday afternoon, the crowded race to the exit was winding down, with prices recovering from three-month lows as traders reassessed the factors they blamed for the worst slide in four months: Greece's debt woes; China's stock market meltdown; talks with Iran over its nuclear program; a stronger dollar; a rise in the number of U.S. oil rigs; a breach of key...

  • LONDON, July 1- Global mining firm Glencore said on Wednesday it would go ahead with a plan to close some operations at its Optimum Coal subsidiary in South Africa due to weak coal prices, a move which will result in the loss of 600 to 700 jobs. South Africa's National Union of Mineworkers had bitterly criticized the company's plan to shut down these assets, accusing...

  • LONDON, July 1- Mongolia's prime minister sees signs of progress in developing the country's biggest coal mine and a gold project, hoping to win back much needed foreign investment after resolving a dispute with miner Rio Tinto. Mongolia gets almost 90 percent of its revenue from the mining sector and was hit by a fall in commodity prices last year.

  • *Glencore seen as main competitor for coal assets deals. Davis set up X2 Resources in 2013 only months after commodity group Glencore took over Xstrata. His fund has raised about $5.6 billion and has six main private investors, which include commodity trader Noble Group and private equity group TPG Capital, an Abu Dhabi investment fund and a Canadian pension...

  • LONDON, June 30- X2 Resources, the private equity fund set up by former Xstrata boss Mick Davis, is now in initial bi-lateral talks to buy some of Rio Tinto's Australian coal assets, a source close to the situation said on Tuesday. The mining industry veteran is also considering buying some coal mines Anglo American has put up for sale in Australia, sources close to X2...

  • BERLIN, June 30- Germany has delayed a parliamentary vote on new rules for the disputed technique of fracking for shale gas after parties in Chancellor Angela Merkel's coalition failed to agree on final details, lawmakers said on Tuesday. Legislation had been due to go to the Bundestag on Friday but objections from some Social Democrats, in coalition with...

  • WASHINGTON, June 29- The Supreme Court on Monday dealt a blow to a sweeping U.S. air pollution regulation aimed primarily at curbing emissions of mercury from coal-fired power plants by ruling that the Obama administration wrongly failed to consider compliance costs. "EPA is disappointed that the court did not uphold the rule, but this rule was issued more than...

  • CALGARY, Alberta, June 26- A review of royalties paid by Alberta's oil and gas industry will be finished by year-end, the government of Canada's largest oil-producing province said Friday, making good on an election promise to reassess how fairly resource revenues are divided up. Alberta, home to Canada's vast oil sands and the largest source of U.S. crude imports,...

  • LONDON, June 25- British officials on Thursday rejected a Cuadrilla Resources application for shale gas fracking in northwest England, a landmark decision that is likely to deter potential investors in Britain's nascent shale gas industry. The company's project at Roseacre Wood near Blackpool could have become one of Britain's first shale gas production...

  • SAN FRANCISCO, June 24- A bill to require California's state pension funds Calpers and CalSTRS to sell their investments in companies that generate at least half their revenue from coal mining passed an Assembly committee by a vote of 5-1 on Wednesday. Stanford University and the University of Maine have made similar moves. It has investments in coal companies...

  • U.S. lawmakers promise scrutiny of coal cleanup program Wednesday, 24 Jun 2015 | 5:48 PM ET

    WASHINGTON, June 24- Lawmakers will examine whether a program that allows coal companies to forgo mine cleanup insurance could leave taxpayers with billion dollar costs, leading members of the U.S. House Committee on Natural Resources said on Wednesday. Debbie Dingell, the leading Democrat on the committee's oversight panel. The country's four largest coal...

  • SAN FRANCISCO, June 24- A bill to require California's state pension funds Calpers and CalSTRS to sell their investments in companies that generate at least half their revenue from coal mining passed an Assembly committee by a vote of 5-1 on Wednesday. In the United States, Stanford University and the University of Maine have made similar moves.

  • CALIFORNIA COMMITTEE VOTES TO ADVANCE BILL TO FORCE CALPERS, CALSTRS TO STOP INVESTING IN COAL MINING COMPANIES.

  • SAN FRANCISCO, June 24- A bill to require California's state pension funds Calpers and CalSTRS to sell their investments in companies that generate at least half their revenue from coal mining received three of the four required votes in a preliminary count at a California Assembly committee on Wednesday. In the United States, Stanford University and the...

  • CALIFORNIA PENSION COAL MINING DIVESTMENT BILL IN PRELIMINARY VOTE GETS 3 OF THE 4 VOTES NEEDED TO ADVANCE, FINAL VOTE STILL AWAITED.