Oil Mining News

The big squeeze: pain ahead if Alberta cuts oil flow to BC

BC drivers might be hit with more than gasoline price spikes should Alberta decide to play hardball.

Suncor output to suffer from early start of Syncrude maintenance

Eight-week maintenance project at Syncrude that had been scheduled to start in April will start Thursday.

US miners ask Supreme Court to end uranium mining ban near Grand Canyon

The National Mining Association (NMA) and the American Exploration and Mining Association (AEMA) have filed petitions asking the court to reverse the 2012 ban.

Teck restarts Elkview dryer, to lose 200,000 tonnes of coal production

Company expects to lose about 200,000 tonnes in steelmaking coal output.

Oil market fears: war, default and nuclear weapons

Outside of the US, there is a deterioration of stability in many oil-producing regions, aggravating risks for both oil companies and the oil market.

Glencore gives investors $2.9bn in dividends after ‘strongest’ results ever

The Swiss miner and commodities trader Glencore said its solid finances will let it to pursue more acquisitions if opportunities arise.

Teck Resources down despite better profit in Q4

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.

Experts warn of civil unrest in Argentina as it readies to lift ban on open pit mining

President’s move to allow open pit mining in provinces until now opposed to it is part of a broader plan to double foreign investment to $25 billion in eight years.

BHP takes $1.8 billion hit from US tax reform

Charge is due to due to cuts in the US Federal corporate income tax rate, the world’s biggest mining company said.

Suncor Energy hikes stake in Syncrude in $730 million deal

Canada's largest energy producer also buys into Norwegian Sea oil project.

Oil prices ravaged by financial turmoil

Oil prices fell back suddenly over the last few trading sessions, dragged down by some forces beyond the oil market. 

Rio investors asked to push miner to leave Minerals Council of Australia

Australasian Centre for Corporate Responsibility says it needs 100 shareholders to co-file resolution at Rio’s upcoming annual general meeting.

Activist Elliott steps up calls for BHP to scrap dual listing

Elliott has previously urged BHP to change its structure, with listings in both Britain and Australia, but the company has resisted.

Can the shale boom avoid these bottlenecks?

Shale companies continue to drill at frenzied pace, breaking U.S. oil production levels. Yet production is becoming increasingly geographically concentrated.

The great coal mining jobs boom has been postponed

So far, repeal of the Clean Power Plan has not really equated with putting coal miners back to work, something Trump has pledged to do again and again.

Why is the shale industry still not profitable?

Echoing criticism of too much hype surrounding U.S. shale from Saudi oil minister last week, new report finds shale drilling still largely not profitable.

CHART: Hedge funds have never been this bullish about the oil price

Large scale speculators in West Texas Intermediate and Brent crude oil futures have built up bullish positions equivalent to a staggering 1 billion barrels.

Canada’s Fort Hills oil sands project delivers first bitumen

Project is on track to reach 90% of capacity — or 194,000 barrels per day — by the end of the year.

What could push oil to $100?

The consultancy expects crude demand this year to grow by 1.7 million bpd, and says Brent could touch above $100 a barrel in 2019.

TransCanada gets enough commercial support to go ahead with Keystone XL

Company said having route approval in Nebraska and the necessary commercial support for the pipeline brings it closer to a final investment decision.

OPEC-Russia oil deal renews threat from Canadian oil sands

A fresh surge in U.S. and Canadian oil production would wreck all of OPEC's hard work.

Costa Rican presidential candidate blasts ecologists, says he would bring mining back

Conservative Diego Castro called environmentalist groups "eco-terrorists."

Canadian companies want to extract nickel, vanadium, cobalt from petcoke

They're running a study led by Paul Watkinson, who has investigated the conversion of carbonaceous solids into gaseous and liquid fuels.

Following detention, journalist publishes controversial story about Venezuela’s Mining Arc

Rampant violence and corruption are the norm in the mines of the southern Guayana region.

Oil tanker still on fire in the East China Sea

The Sanchi collided with a cargo ship about 260km off the coast of Shanghai.