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Coal and Consumable Fuels

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  • Alpha Natural and rivals such as Peabody Energy Corp and Arch Coal Inc are reining in expenses to make up for coal prices that have remained low for at least two years. Peabody Energy slashed its quarterly dividend last month and Arch Coal suspended its dividend this month. Adjusted cost of sales for Alpha Natural's eastern mines, spanning the Appalachian...

  • Feb 12- Canadian miner Teck Resources Ltd's quarterly profit missed analysts' estimates as the company struggles with weak coal and copper prices. Net profit attributable to shareholders nearly halved to C $129 million, or 23 Canadian cents per share, in the fourth quarter ended Dec. 31. The much-delayed C $13.5 billion project has a break-even price of $90 or...

  • Teck profit slides on weak coal, copper prices Thursday, 12 Feb 2015 | 5:08 AM ET

    Feb 12- Miner Teck Resources Ltd's quarterly profit nearly halved due to weak coal prices and a decline in copper sales and prices. Net profit attributable to shareholders fell to C $129 million, or 23 Canadian cents per share, in the fourth quarter ended Dec.31 from C $232 million, or 40 Canadian cents per share, a year ago. Revenue at Vancouver- based Teck, the world's...

  • Mirroring oil, this fossil fuel is plunging, too Wednesday, 11 Feb 2015 | 2:21 PM ET
    A bulldozer moves coal that will be burned to generate electricity at the American Electric Power Co. coal-fired power plant in Winfield, West Virginia.

    There is too much supply of coal at a time when global demand for the fossil fuel is cooling.

  • BRUSSELS, Feb 9- Rich nations provided nearly $15 billion over a decade from 2003 to 2013 to fund exports of coal-fired power plant and coal mining technology, data seen by Reuters shows, defying calls to end subsidies for the most polluting of the fossil fuels. A document prepared late last year by the Paris- based Organisation for Economic Cooperation and...

  • COLUMN-A brief history of the oil crash: Kemp Friday, 6 Feb 2015 | 8:57 AM ET

    LONDON, Feb 6- In 2013 and early 2014, the growing imbalance between supply and demand in the oil market was masked by a string of supply disruptions as a result of war, unrest and sanctions. After a decade of high oil prices, supplies from North American shale plays were growing by more than 1 million barrels per day annually, while fuel demand in the United States and...

  • Feb 3- U.S. miner Arch Coal Inc reported a smaller-than-expected quarterly loss as it cut costs, sending its shares up nearly 9 percent in early trading. Arch Coal said cash costs fell to $16.46 per ton in the fourth quarter ended Dec. 31, from $18.10 per ton a year earlier. Arch Coal forecast full-year coal sales of 130.3 million-143 million tons in 2015, compared...

  • Arch Coal reports smaller loss, suspends dividend Tuesday, 3 Feb 2015 | 8:06 AM ET

    Feb 3- U.S. miner Arch Coal Inc reported a smaller quarterly loss, but suspended its annual dividend, citing weak coal prices. Peabody Energy Corp, the largest U.S. coal miner, slashed its quarterly dividend last week on expectations that prices of natural gas would stay low in 2015, keeping a lid on demand for coal. Arch Coal's net loss shrank to $240.1 million, or...

  • Feb 2- Imperial Oil Ltd's Kearl oil sands project expansion will start ahead of schedule, the company said on Monday, in the latest sign that weak crude prices are failing to dent oil sands growth. Imperial, Canada's second-largest integrated oil producer and refiner, said construction on the Kearl expansion in northern Alberta is essentially complete.

  • WARSAW, Jan 31- U.S. energy major Chevron Corp said it will stop exploring for shale gas in Poland, a sector that has failed to live up to its early promise of transforming eastern Europe's energy supplies. Exxon Mobil, Total and Marathon Oil have also stopped shale gas exploration in Poland over the past three years. Governments in eastern Europe, especially Poland,...

  • Jan 30- Consol Energy Inc said it hired advisers to evaluate a master limited partnership structure for its thermal coal business, as it shifts focus to boosting natural gas production. The company said it expected to invest $1 billion in its oil and natural gas business in 2015, compared with the $220 million in its coal business. Coal miners have been weighed...

  • CALGARY, Alberta, Jan 29- Canadian Oil Sands Ltd, the largest-interest owner in the Syncrude oil sands project, slashed its dividend and further reduced 2015 capital spending on Thursday as fourth-quarter profit dropped 87 percent due to lower oil prices. Canadian Oil Sands said net income in the quarter was C $25 million, or 5 Canadian cents per share, down from C...

  • *Scotland blocks new permits for fracking. LONDON, Jan 28- Scotland on Wednesday blocked the granting of permits for fracking and a local English council delayed a decision on two projects, casting doubt on British Prime Minister David Cameron's shale gas ambitions. Scotland, estimated to have around 80 trillion cubic metres of shale gas resources- enough to...

  • LONDON, Jan 28- A local English government council has delayed a decision on whether shale gas firm Cuadrilla can progress with two fracking projects in a test case showing the challenges facing the industry in Britain. The vote over what could be Britain's first shale-producing wells has been closely watched by the industry and environmental campaigners as...

  • UK council defers controversial shale gas permits Wednesday, 28 Jan 2015 | 7:21 AM ET

    LONDON, Jan 28- A local English government council has voted to delay a decision on whether shale gas firm Cuadrilla can progress with two fracking projects, in a case that is being closely watched by the industry and environmental campaigners. Cuadrilla's projects near Blackpool in north west England are expected to become Britain's first shale gas...

  • Jan 28- Cenovus Energy Inc, Canada's No. 2 independent oil producer, cut its capital spending budget for 2015 in response to the slump in crude oil prices. The company said it could defer spending of up to C $700 million, mainly by suspending a bulk of its conventional drilling in southern Alberta and Saskatchewan and delaying long-term oil sands expansion and new...

  • Jan 27- Coal miner Peabody Energy Corp slashed its quarterly dividend as it strives to rein in costs amid tepid demand, due to expectations that prices of natural gas, a cheaper alternative to steam coal, would remain weak in 2015.. The miner cut its quarterly dividend by 97 percent to 0.25 cents per share from 8.5 cents, sending its stock plunging as much as 9 percent...

  • Jan 27- Coal miner Peabody Energy Corp said it expected demand in the United States to decline in 2015, mainly due to lower natural gas prices. Peabody said it would pay a quarterly dividend of 0.25 cents per share, way below the 8.5 cents per share it paid in November. The company, which has mining operations in the United States and Australia, forecast U.S. coal...

  • Jan 27- Coal miner Peabody Energy Corp reported a smaller quarterly loss, helped by lower operating costs in Australia and the United States. The company's net loss attributable to common stockholders narrowed to $514.6 million, or $1.92 per share, in the fourth quarter ended Dec. 31, from $565.7 million, or $2.12 cents per share, a year earlier.

  • CHICAGO, Jan 27- Construction and mining equipment maker Caterpillar Inc on Tuesday reported a lower net profit that came in below market expectations, as lower prices for copper, coal and iron ore hurt its mining business and warned the drop in oil prices would hurt its business in 2015.. The Peoria, Illinois- based company reported a fourth-quarter net profit of...