Oil Sands Mining News

Which countries are damaged most by low oil prices?

This week's chart looks at costs per barrel, exports, and total oil production.

Pan Orient Energy's exploration drilling set to commence Q4/16

Pan Orient Energy's strong balance sheet puts it in position to begin drilling at East Jabung in Indonesia at the end of this year.

OPEC's output freeze: What has changed since Doha?

It's possible that OPEC is crying wolf with hints of an output freeze next month in Algiers; but it's also possible that they are ramping up production to take the sting out of a freeze.

Nailing the bottom of oil

Bob Moriarty points investors toward information that accurately captures movement in energy markets.

Here's what Canada needs to regain leadership in mineral exploration and mining

Mineral and mining industry highlights top priorities at Energy and Mines Ministers’ Conference.

Saudis ramping up oil output to gain leverage in OPEC talks

Saudi Arabia suggests it may be increasing its August crude output to a new all-time high as it could give it more leverage to influence the September informal talks on a possible production freeze, Reuters reported on Wednesday, citing industry sources.

These are Canada’s priorities when it comes to environmental assessment reviews

Between September and January, a federal panel will review how Canada handles environmental assessments for major resources projects and provide suggestions.

World’s No. 1 miner BHP Billiton posts $6.4bn annual loss — its worst-ever

Not even counting the $7.7 billion in write-downs and charges, BHP’s underlying profit dropped by a painful 81% to $1.2 billion for the year to June.

It’s not just oil – Canada’s potash industry is going through its own bust

A wave of overbuilding and production increases in recent years — spurred by a spike in crop prices and a perceived demand that didn't quite materialize — have left the market flooded with supply.

Here is why these mining and metals companies left the TSX

Experts blame increased number of mergers and acquisitions, but there’s more to it, study shows.

Surprise natural gas drawdown signals higher prices ahead

The U.S. electric power sector burned through a record amount of natural gas in recent weeks, a sign of the shifting power generation mix and also a signal that natural gas supplies could get tighter than many analysts had previously expected.

Japan Canada Oil Sands to keep Hangingstone project offline until further notice

The project, one of Canada’s oldest, will remain closed until benchmark oil prices rise above US$50 per barrel.

Nuke the oilsands: Alberta’s narrowly cancelled plan to drill for oil with atomic weapons

Devised by California-based Richfield Oil Corporation, Project Oilsand was uncannily simple: Get an atomic bomb from the Americans and blow it up under Athabasca.

Gold price rally sparks $50 billion of commodity investments

New report shows commodity assets under management jumping to $235 billion, the best performance since 2009, largely due to physical gold ETF inflows.

Today's downturn sets markets up for a dramatic oil price spike

Oil and gas companies have gutted their capex budgets, necessary moves as drillers went deep into the red following the crash in oil prices. But the sharp cutback in investment means that huge volumes of oil that would have otherwise come online in five or ten years now will remain on the sidelines.

This is what a broad-based metals and mining rally looks like

CHART: The gold price may grab headlines, but coal's rally comes as a shocker – thermal prices are up 22% in 2016 and coking coal's back in triple digits.

Fort McMurray wildfires eat into Imperial Oil earnings

Imperial, Canada’s No.2 integrated oil producer and refiner, posted a surprise $181-million loss in its second quarter.

Suncor burned by wildfire damages and slump in oil production

The largest crude oil producer in Canada announced net losses of C$735 million after Alberta wildfires near Fort McMurray forced its oils sands operations to be temporarily suspended back in May.

Teck delivers surprise profit, stock surges

Systematic cost cutting has taken some strain off Teck's balance sheet over the last few years as metal prices have slumped.

Husky’s oilsands project back on track after Fort McMurray wildfire

Husky Energy says its thermal oilsands project that was shut down while wildfires swept through the Fort McMurray, Alta., region in May is already back to producing bitumen at its previous level.

Husky Energy's progress from downturn clouded by spill into Saskatchewan river

Canada’s No. 3 integrated oil company, reported a smaller-than-expected quarterly loss as the focus on fewer, more efficient resource plays helped reduce production costs.

Did oil kill the dinosaurs?

What killed the dinosaurs? It's a question as old as – well the dinosaurs themselves, and one that everyone from school children to scientists have been asking for decades.

Enbridge to pay $61 million fine for 2010 oil spills in Michigan, Illinois

$177 million settlement announced Wednesday requires action to prevent future spills.

Canadians spent over $32bn in mining acquisitions in first half of 2016

Overall, Canadian deal-making in the first half of the year fell in line with the global cooling down trend that has followed the record valuations of 2015.

Oil sands activist appointed to climate change advisory board in Alberta

The NDP government in Alberta has appointed a well-known climate change activist and anti-oil sands campaigner to co-chair an advisory board on climate change.