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Coal and Consumable Fuels

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  • AXA axes 500 mln euros of coal investments Friday, 22 May 2015 | 11:43 AM ET

    PARIS, May 22- French insurer AXA said on Friday it was cutting its exposure to the coal industry, pulling out of investments worth 500 million euros. Bank of America said earlier this month it was cutting back its lending to the coal industry, while French bank Societe Generale said it was restricting its exposure to the sector. However oil major Royal Dutch...

  • PARIS, May 21- Rich countries should help developing countries like India limit their carbon emissions by supporting the building of more expensive but cleaner energy plants, Glencore chairman Tony Hayward said on Thursday. Hayward said that India, where hundreds of millions of people have no access to electricity, is about to build 200 gigawatts of...

  • Wyoming governor pushes coal ports on Northwest trip Monday, 18 May 2015 | 1:37 PM ET

    CHEYENNE, Wyo.— Faced with sliding domestic demand for coal, the governor of Wyoming has kept pressing for access to deep-water ports in the Northwest that would allow exports to Asian markets. Jay Inslee in Olympia and plans to meet Tuesday with Oregon Gov. The stakes are high for Wyoming— the nation's leading coal-producing state— to find new markets.

  • *Issues sell recommendations on BP and Statoil. May 18- Goldman Sachs has cut its long-term crude oil price forecasts and recommended investors sell shares in two major oil companies, saying that improved U.S. shale efficiency and higher production from OPEC will more than cover future demand. The U.S. investment bank's equities team, in a note published on...

  • KUALA LUMPUR, May 18- Tokyo Gas Co Ltd, Japan's biggest gas utility, is looking to invest in more U.S. shale gas production as a hedge to liquefied natural gas imports from the United States to start next year, a company executive said on Monday. The company has inked contracts to buy 1.9 million tonnes per year of LNG from U.S. producers and aims to invest in an equal...

  • Al-Jaidah said demand for OPEC oil is likely to improve, as prices below $100 will hinder the growth of shale oil. On Friday, U.S. crude settled down 19 cents at $59.69 a barrel, after falling more than $1 during the session. Over the last few years, it has created 10 joint ventures in the United States, Britain, Italy, Singapore, Egypt and elsewhere, though it has not...

  • New York releases final environmental review of fracking Wednesday, 13 May 2015 | 4:27 PM ET

    ALBANY, N.Y.— New York regulators have released the final version of an environmental impact review of natural gas development that's expected to lead to the nation's first ban on a drilling process called fracking by a state with significant shale gas deposits. Andrew Cuomo said in December that he would defer to the judgment of his health and environmental...

  • PIKEVILLE, Kentucky, May 12- The United States has released $35.5 million to help communities hit hard by the decline in coal mining to diversify their economies and retrain displaced miners, U.S. Perez announced the move at the Shaping our Appalachian Region summit in eastern Kentucky, a region hard hit by the downturn in the U.S. coal industry.

  • CHARLESTON, W.Va.— Patriot Coal Corp. filed for Chapter 11 bankruptcy protection Tuesday for the second time in three years and said it is involved in active negotiations for the sale of the company. It had emerged from an earlier bankruptcy case in December 2013 in Missouri. Coal- mining companies in central Appalachia have struggled in recent years, shedding...

  • NEW YORK, May 11- Oil edged lower on Monday on signs that a multi-week rally was encouraging a rejuvenation in already bloated U.S. shale supplies, even as the government expected less output in June from the fastest-growing fields. Still, the U.S. Energy Information Administration expects output from the fastest-growing U.S. shale plays to drop 71,000 barrels...

  • *Permian Basin rig count up for first time in 2015- Baker Hughes. NEW YORK, May 11- Oil came under pressure on Monday on signs a multi-week rally was encouraging a rejuvenation in already bloated U.S. shale supplies. U.S. crude futures were down 49 cents at $58.90 a barrel by 11:48 a.m. EDT.

  • *China cuts interest rates for third time in 6 months. *Permian Basin rig count up for first time in 2015- Baker Hughes. LONDON, May 11- Oil slipped towards $65 a barrel on Monday as signs that U.S. shale oil production was recovering after a recent price rally renewed concerns of a growing global supply glut.

  • *China cuts interest rates for third time in 6 months. *Permian Basin rig count up for first time in 2015- Baker Hughes. LONDON, May 11- Oil slipped below $65 a barrel on Monday as signs that U.S. shale oil production was recovering after a recent price rally renewed concerns of a growing global supply glut.

  • WASHINGTON, May 6- Bank of America announced Wednesday it will reduce its financial exposure to coal companies, acknowledging the risk that future regulation and competition from natural gas pose on the industry. "Our new policy reflects our decision to continue to reduce our credit exposure over time to the coal mining sector globally," said Andrew Plepler,...

  • *Areva reprocessing sales shrink further post Fukushima. BEAUMONT- HAGUE, France, May 6- Areva's nuclear fuel reprocessing plant in La Hague needs to cut costs as its international customers disappear following the Fukushima disaster, and its sole remaining big customer, fellow state-owned French utility EDF, pressures it to cut prices. Areva said in January it...

  • *Areva reprocessing sales shrink further post Fukushima. BEAUMONT- HAGUE, France, May 6- Areva's nuclear fuel reprocessing plant in La Hague needs to cut costs as its international customers disappear following the Fukushima disaster, and its sole remaining big customer, fellow state-owned French utility EDF, pressures it to cut prices. Areva said in January it...

  • WILLISTON, N.D., May 4- Oil and natural gas producer EOG Resources Inc posted a better-than-expected adjusted profit on Monday as hedges and cost cuts helped offset low oil prices. It was the continuation of a theme for U.S. shale oil producers, including Whiting Petroleum Corp and Hess Corp, who have aggressively curtailed spending and relied in varying degrees...

  • WASHINGTON, May 4- The World Bank indirectly invests part of its $18.8 billion staff pension fund in companies in industries such as coal and tobacco, holdings that clash with the development institution's own calls for ethical and low-carbon investing. In an internal post to staff seen by Reuters, the World Bank's treasurer said around 40 percent of the fund's...

  • CALGARY, Alberta, April 30- Canadian Oil Sands Ltd, the largest shareholder in the Syncrude Canada Ltd joint venture, said on Thursday it swung to a loss in the first quarter as oil prices dropped by more than half. The company, which has a 37 percent stake in the Syncrude project, said its net loss was C $186 million, or 38 Canadian cents per share, compared with a net...

  • Canadian Oil Sands posts loss, says cost cut paying off Thursday, 30 Apr 2015 | 4:50 PM ET

    CALGARY, Alberta, April 30- Canadian Oil Sands Ltd, the largest shareholder in the Syncrude Canada Ltd joint venture, said on Thursday it swung to a loss in the first quarter as oil prices dropped by more than half. The other Syncrude partners are Imperial Oil Ltd; Mocal Energy; Murphy Oil Corp; Nexen, a wholly owned subsidiary of China's CNOOC Ltd; Sinopec and Suncor...