Total global oil production could decline for the next several years in a row as scarce new sources of supply come online.
Oil Sands Mining News
Suncor Energy (TSX, NYSE:SU) on Sunday announced the "safe and staged restart" of its oilsands operations after an approaching wildfire forced the company to abandon its camps north of Fort McMurray.
The price of a barrel of oil has almost doubled from its low of $28 at the start of the year, prompting speculation that a recovery is underway.
Australia's Taurus raised $683m to invest in mining company debt last year, while two funds currently in the market are targeting investor capital of $800m.
Strong performance also came on the back of strategic initiatives, such as non-core asset sales, aggressive cost control measures and a disciplined approach in reducing debt.
Cooler weather is helping to control a blaze in Canada’s oil sands region and allowing Suncor Energy Inc. and Syncrude Canada Ltd. to start getting back to work.
Community support for the project a test for Trudeau government.
Situation has forced some companies to abandon plans laid last week to restart production.
China's spending on infrastructure is being front-loaded and should translate into significantly higher copper demand later in the year.
Forest fires in Northern Alberta have forced additional evacuations at several major operations.
Oilsands around Fort McMurray to fly workers in and out of sites to get operations restarted quickly
Several major producers including ConocoPhillips Canada, Canadian Natural Resources, and others, may be able to resume operations faster than many would have thought, though there are logistical challenges.
Canada’s largest pipeline company's first-quarter profit rose as record volumes carried on its main pipeline system helped shield it from a sustained drop in oil prices.
Glacier Media is donating $50,000.
Seven trading days in and already global mining investors are nursing double digit declines as everything from copper to met coal to silver take a beating.
"But, alas, I was fooled."
Strategic shift comes as the world's biggest miner tries to regain investors' confidence.
Companies and authorities now discussing plans to resume production.
Monday mayhem as metals rally evaporates and mining's top names are dumped – Anglo's losses since a week ago now 28%, Freeport has plunged 25%.
Total debt of newly bankrupted energy companies is soaring each month
The worst wildfire in Alberta history is boosting Canadian crude prices as oil companies evacuate workers and shut in as much as 1 million barrels a day of output.
Oil companies are reducing production to allow families to evacuate.
The fire is the latest blow to a community already hit by slumping oil prices that have forced producers to halt projects and lay off hundreds.
The company's shares have almost tripled this year, making it the best-performing global miner amid the rebound in commodity prices and a projected fivefold improvement in earnings.
Veteran investor Bob Moriarty discusses one company that is poised to benefit from the volatililty in the oil markets.
The blazes are not located near any major oil sands operations.