Argus Media

Global oil fundamentals on the eve of Opec

After a year and a half of lower crude prices, there is little expectation that Opec, under pressure from dominant force Saudi Arabia, will change course at this week’s meeting.

US coal production to fall 10pc this year, study says

US coal production is set to decline 10pc year over year in 2012, or by 2mn short tons (83mn metric tonnes), as miners try to bring supply in line with demand, investment analyst firm Tudor Pickering Holt (TPH) said today.

Alberta gas wells shut due to potential bitumen impact

Energy Resources Conservation Board (ERCB) issued a decision today decreeing that 691 natural gas wells in the Athabasca oil sands area must be shut because they present significant risk to future bitumen recovery. The gas wells to be shut in are locat...

South Korea’s Komipo buys high calorific value coal

South Korean utility Korea Midland Power (Komipo) has bought three Capesizes of NAR 5,900kcal/kg coal South African coal and one Capesize of the same-specification Canadian coal for about $114/t each and $118/t, respectively.

Russia’s Posyet port loads record amount of coal

(Argus) — Russian mining and steel company Mechel's Posyet port loaded a record number of coal cargoes in August. The port in Russia's far east loaded 26 ships in August, or 509,000t of coal, the highest for any month in the port's history. A

Australian coal miners face more flood forecasts

(Argus) — Australia's coal miners are bracing for more floods during the next wet season, after the government's weather forecaster said there was an increased probability of another wet Christmas. Severe rain in Queensland last December and January

Coal infrastructure safe after Hurricane Irene

US ports, railroads and terminals on the east coast suffered minor damage over the weekend from Hurricane Irene, and operations are quickly returning to normal after the storm proved less destructive than expected.

New Hope moves to mop up Northern Energy shares

New Hope Energy has offered A$2 ($2.12) a share for the outstanding 19.17pc of Northern Energy that it does not already own, as it looks to take full control of the Australian hard coking and thermal coal developer. T