The firm, North America's No.1 producer of coking coal, said the boost in profit was mainly thanks to the reversal of an impairment charge related to an improvement in the outlook for steelmaking commodity.
Oil Sands Mining News
Canada's largest energy producer also buys into Norwegian Sea oil project.
Oil prices fell back suddenly over the last few trading sessions, dragged down by some forces beyond the oil market.
US researchers have found that female mice exposed to mixtures of chemicals used in unconventional oil and gas (UOG) operations during prenatal development had abnormal mammary glands in adulthood. Some even developed pre-cancerous mammary lesions.
Mining and metal companies are rediscovering the downside of rallying prices: higher costs.
Over the next six years, the company expects to deploy more than 150 autonomous haul trucks in the full program, which will be one of the largest investments in electric autonomous vehicles in the world.
Large scale speculators in West Texas Intermediate and Brent crude oil futures have built up bullish positions equivalent to a staggering 1 billion barrels.
Project is on track to reach 90% of capacity — or 194,000 barrels per day — by the end of the year.
Company said having route approval in Nebraska and the necessary commercial support for the pipeline brings it closer to a final investment decision.
A fresh surge in U.S. and Canadian oil production would wreck all of OPEC's hard work.
They're running a study led by Paul Watkinson, who has investigated the conversion of carbonaceous solids into gaseous and liquid fuels.
Rampant violence and corruption are the norm in the mines of the southern Guayana region.
Tenova TAKRAF has recently developed a symbiotic niche in the oil sands industry.
The Sanchi collided with a cargo ship about 260km off the coast of Shanghai.
Oil production is seen as topping 11 million b/d in November 2019.
The company's CEO said they are moving closer to their goal of producing 20,000 barrels per day at Orion.
Suncor Energy and Teck Resources Ltd have taken higher stakes in Fort Hills oil sands mine from partner Total SA, resolving a dispute over building costs.
Oil prices are set to close out the year up more than 11 percent, hitting their highest level since 2015. However, the road to higher prices was rocky.
New life was breathed into the Canadian oil sands with a decision by foreign-owned Harvest Operations Corp to commission its BlackGold project south of Fort McMurray.
Venezuelan President Maduro shocked the market in early December when he followed China's 'petro-yuan' futures announcement by making headlines of himself proclaiming a new national cryptocurrency - the 'Petro' - to overcome The West's "financial blockade."
"In Venezuela, we are out of gas. In Venezuela, there is no gas oil. In Venezuela, there are no lube oils."
The institution will stop all lending for oil and gas projects after 2019, with some exceptions.
AXA and three other French investment groups follow the World Bank's lead.
Lender is moving to a carbon-neutral state by offsetting its own greenhouse gas emissions through the purchase of carbon credits starting this year.
Suncor Energy begins regulatory process to add significant low-carbon power with cogeneration at its Oil Sands operations
To remain globally cost and carbon competitive, Suncor took first steps to replace coke-fired boilers with two cogeneration units at Oil Sands Base Plant.