Oil Mining News

BHP to exit shale within two years, sell nickel assets

“We have a strong sense of urgency,” chief executive Andrew Mackenzie told reporters following the company’s annual general meeting in Melbourne.

Is peak Permian only 3 years away?

The world's hottest shale basin, the Permian, is leading the second U.S. wave of tight oil production growth and will continue to do so for years to come, all analysts say.

Suncor Energy's Steve Williams appoints Mark Little as chief operating officer

Steve Williams, chief executive officer at Suncor, today announced the appointment of Mark Little, currently president, Upstream, as chief operating officer (COO).

Venezuela’s Mining Arch in the spotlight again

New reports highlighting the environmental dangers posed by mineral exploitation at the Mining Arch have emerged, as Venezuelan officials try to convince Alrosa to invest in the project.

Suncor Energy and PetroNor announce agreement for equity partnership

Suncor and PetroNor today announced the purchase by Suncor of a 41% equity interest in PetroNor, a petroleum products distributor across the James Bay and Abitibi-Témiscamingue regions of Quebec.

The view from the Goldcorp chairman's office

He built one of the world's largest gold producers. Now Ian Telfer is cornering Mexico's oil privatization.

BHP aims for more copper, oil; steers away from EV minerals

BHP CCO Balhuizen says while 2017 marks "tipping point" for EVs entering mainstream of metals demand forecasting, in terms of sales mass move is further off.

Trump to shrink Utah national monuments in bid to boost drilling, mining

U.S. President Donald Trump will shrink the size of two national monuments in Utah, Senator Orrin Hatch of Utah said on Friday, a change that will open parts of them to drilling and mining but which Democrats, environmental groups and Native Americans are vowing to fight.

The 5 countries that could push oil prices up

Oil prices appear to be stuck in the $50s per barrel, but that doesn’t mean there aren’t serious supply risks to the market.

Environmental group’s office raided to collect for Enbridge

After sending court bailiffs to seize property from Stand.earth, Enbridge backed off, saying it will not seize property after all.

The “Amazon Effect” is coming to oil markets

While OPEC mulls over further steps to once again support falling oil prices, tech startups are quietly ushering in a new era in oil and gas: the era of the digital oil field.

Elliott tours BHP investors in renewed push for radical shake-up – sources

Representatives from Elliott have in the last month met with major BHP investors based in London, South Africa and Australia to lay out the activist fund's arguments for an overhaul of the miner.

The next big offshore boom is about to happen here

The latest demonstration of the viability of deepwater projects, even in the post-2014 oil industry era, comes from none other than Brazil.

A new challenge to the dollar

China announced the creation of an oil futures contract that will be denominated in Yuan and convertible into gold.

Trump's solar tariff confusion creates an opportunity

The solar sector is reeling from confusion, and stock prices are reeling right along with it.

Total to wait for better oil prices before selling Canadian assets

CEO Patrick Pouyanne said the company’s priority was "value over volume", adding that oil sands were among the high breakeven projects in Total's portfolio.

Canada’s Cenovus to sell Suffield assets in Alberta for $512m

The sale of the Suffield assets to to International Petroleum Corporation is expected to close before the end of the year.

BHP Billiton Foundation launches two new transparency projects

BHP Billiton Foundation announced Tuesday its financial support for two new global projects launched at an event held in Washington DC.

BHP’s shareholders to vote whether firm should leave Australia’s top mining lobby group

Investors to vote on the two resolutions submitted ethical investing group ACCR at BHP’s annual general meeting in London in October.

Canada does not need more oil sands pipelines, report claims

A report by the Centre for International Governance Innovation argues the global push to reduce carbon emissions over the next three decades will reduce the size of future oil markets.

The $10 trillion mineral resources North Korea can't tap

North Korea may not have proved petroleum reserves, but it's estimated that the secluded belligerent nation sits on reserves of more than 200 minerals—including rare earth minerals—worth an estimated up to US$10 trillion.

The oil market is bigger than all metal markets combined

Ever since the invention of the internal combustion engine, oil has been one of the most crucial commodities on Earth.

China invests $9.1 billion in Rosneft as Glencore, Qatar cut stakes

Deal boosts energy cooperation between Moscow and Beijing.

How EIA guestimates keep oil prices subdued

The EIA has once again undercut its previous estimates for U.S. oil production, offering further evidence that the U.S. shale industry is not producing as much as everyone thinks.

The next oil price spike may cripple the industry

How it is possible for the price of oil to go both up and not up, and what would that mean for the oil industry?