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Coal and Consumable Fuels

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  • SYDNEY, Jan 5- Glencore Plc on Monday said it was restarting coal mining operations in Australia, following a three-week suspension aimed at combating a global supply glut made worse by protectionist trade measures introduced in China. World thermal coal trade is estimated to have declined by 4.5 per cent to 1.023 billion tonnes in 2014, driven largely by...

  • U.S. crude had a brief, strong rally early in the day that might have been short-covering, said John Kilduff, a partner in Again Capital LLC, before its gain was cut. Brent has fallen to its lowest in more than five years as top exporter Saudi Arabia and other large Gulf producers continue to pump oil, while U.S. shale oil output grows quickly, despite pleas from other...

  • LONDON, Dec 31- Asia Resource Minerals said on Wednesday that a Singapore tribunal has ruled that former executive Rosan Roeslani has to repay the company $173 million, plus interest and legal costs, lifting its shares by more than 300 percent. The coal producer, formerly known as Bumi, launched the arbitration in Singapore a year ago to enforce a previous...

  • WASHINGTON, Dec 30- The Obama administration on Tuesday bowed to months of growing pressure over a 40- year-old ban on exports of most domestic crude, taking two steps expected to unleash a wave of ultra-light shale oil onto global markets. The Bureau of Industry and Security, or BIS, which regulates export controls, said it had granted permission to "some"...

  • US agency gives quiet nod to light oil exports Tuesday, 30 Dec 2014 | 7:18 AM ET
    A worker for Raven Drilling, helps line up a pipe while drilling for oil in the Bakken shale formation outside Watford City, North Dakota.

    A U.S. export authority told some oil companies that they should consider exporting a lightly processed form of crude oil without formal permission.

  • WASHINGTON, Dec 30- The main U.S. export authority is telling some oil companies that they should consider exporting a lightly processed form of crude oil called condensate without formal permission, according to people familiar with the discussions. In conversations that may help clear the way for more overseas sales of U.S. shale oil, the Commerce...

  • WILLISTON, N.D., Dec 29- Civeo Corp, which provides temporary housing for oilfield workers and miners, slashed its workforce on Monday and said revenue could fall by a third as slumping crude prices force oil producers to cut costs. The warning adds jitters to the already-wary global oil market and highlights weakness in Australia's coal industry, one of Civeo's...

  • SHANGHAI, Dec 23- A former top executive at a China's largest coal producer has been put under investigation by the country's top graft busting body, the latest in a series of corruption cases against high ranking political and business figures. Former vice president of China Shenhua Energy Co Ltd Hua Zeqiao is suspected of "serious violations" of the law, a...

  • Japanese firms snap up coal assets Sunday, 21 Dec 2014 | 8:02 PM ET

    A flurry of acquisitions of coal assets by Japanese firms signals that some trading houses are betting a depressed coal market is bottoming out.

  • U.S. plans to shut royalty loophole on coal exports Friday, 19 Dec 2014 | 11:30 AM ET

    WASHINGTON, Dec 19- U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday. "Coal produced on public lands is an important part of our domestic energy portfolio, but we have an obligation- and we are fully committed- to ensure that...

  • Environmental groups say the practice of storing coal ash in holding ponds supported by permeable, earthen dikes leads both to contamination of surrounding groundwater and the risk of catastrophe when those dikes fail, as happened in Tennessee and at a site in North Carolina earlier this year. The EPA has said contaminants such as arsenic, mercury and cadmium...

  • EU lawmakers fail to approve tar sands oil veto Wednesday, 17 Dec 2014 | 12:56 PM ET

    BRUSSELS, Dec 17- An attempt by some European politicians to veto the import of tar sands oil failed on Wednesday after a European Parliament vote, giving a boost to Canada but dismaying green campaigners. After years of lobbying from Canada, the European Commission published a new plan in October on reporting the greenhouse gas intensity of transport fuels.

  • Dec 16- California pension plans would divest all assets related to the coal industry under a measure the leader of the state senate said he will propose to reduce support for an industry that critics blame for contributing to climate change. He had just returned from United Nations talks in Lima, Peru on international efforts to fight climate change.

  • US STOCKS-Futures slide as oil, rouble crumble Tuesday, 16 Dec 2014 | 7:33 AM ET

    NEW YORK, Dec 16- U.S. stock index futures fell on Tuesday as a slide in the Russian rouble and crude oil prices sent traders fleeing risky assets. *Brent crude lost nearly 4 percent after hitting a low of $58.50 and U.S. crude was down 3 percent at $54.21 after hitting $53.80. *Plunging oil prices could heighten geopolitical tensions, trigger defaults by U.S. shale oil...

  • SHANGHAI/ HONG KONG, Dec 16- China will slash export tariffs for coal from Jan. 1 and adjust those for a range of other commodities as part of broader efforts to re-order trade and foster economic growth. Despite the sharp drop in coal export taxes, industry experts said there was little risk of Chinese supplies flooding the Asian Pacific seaborne market as...

  • FORT MCMURRAY, Alberta, Dec 16- The boomtown in the heart of Canada's oil sands region is getting nervous. Fort McMurray, surrounded by the boreal forest of northern Canada, has long drawn thousands with jobs that paid six-figure salaries to a region that produces more crude than anywhere else in the Western Hemisphere. Suncor Energy Inc, Total SA and Statoil ASA...

  • HONG KONG, Dec 16- China's yuan fell against the dollar on Tuesday as the central bank set a weaker midpoint, and on further indications that China will roll out more stimulus measures to shore up the sluggish economy. The yuan has been under pressure in the past month as demand for dollars from oil and coal companies increases near year-end, while a series of weak...

  • Dec 15- SunCoke Energy Inc, which produces coke used in steelmaking, said it would more than halve its annual coal production and cut 175 jobs due to weak prices. It said it was also looking at other options, including hiring contractors to mine coal or purchasing coal for its 720,000- tons Jewell Coke facility in Virginia. The company's coal mining operations are...

  • Dec 15- SunCoke Energy Inc, which produces coke used in steelmaking, said it would more than halve its annual coal production and cut 175 jobs due to weak prices. The company said it would reduce its annual coal production to 500,000 tons from 1.1 million. The company had about 1,344 employees in the United States and about 233 employees at its cokemaking facility...

  • $60 oil will be norm for next 5 years: Economist Thursday, 11 Dec 2014 | 10:52 AM ET
    Workers make a pipe connection on the drill string on the Orion Perseus drilling rig near Encinal in the Eagle Ford Shale in Webb County, Texas.

    The price of oil will normalize around $60 as China's economy cools down to digest overinvestment, economist Andy Xie said.