Oil Mining News

IEA: high oil prices "taking a toll" on demand

Geopolitics has taken over the oil market, driving oil prices up to three-year highs.

Shell sells stake in Canadian Natural Resources for $3.3 billion

Once the deal closes, Shell's only involvement in Canada's oil sands will be through its 10% stake in the Athabasca Oil Sands Project, majority owned by CNR and Chevron.

Fort Hills oilsands ramp up surges over 100,000 bbls/d

The most recent data available from the Alberta Energy Regulator — for December 2017 — shows Fort Hills at 11,525 bbls/d.

Oil hedge fund manager Andurand says $300 'not impossible'

Pierre Andurand said the current reluctance of energy companies to invest in new production meant $300 a barrel was "not impossible" within a few years.

What to watch in commodities: aluminum, shale, Ag giants, China

Aluminum remains in focus almost a month after the U.S. introduced sanctions against United Co. Rusal, then eased off.

Oil sands get taste of slower growth ahead as logjams hit output

While Cenovus and Husky both billed their output slowdowns as temporary, the first-quarter hiccups foreshadow shrinking gains in oil-sands production.

Cenovus says railways are ready to ease oil transportation bottlenecks

Oil and gas producer Cenovus Energy Inc expects Canada’s railways to be able to carry more oil in the second half of this year.

Commodities: the top asset class of 2018 so far

If the commodity sector keeps the pace for the rest of 2018, this will be the best year for the asset class since 2003.

Mining firms from China to Canada watch as Greenland holds election

China already actively seeking opportunities.

Commodities are flashing a once-in-a-generation buy signal

Since the commodities supercycle unwound nearly 10 years ago, many investors have been waiting for the right conditions to trigger mean reversion and lift prices.

Which has the bigger economy: Texas or Russia?

Even though Russia has nearly five times as many residents as Texas, the Lone Star State's economy is more than $40 billion larger.

IMF resumes lending to Chad following Glencore debt deal

The Central African oil producer reached an agreement in principle to restructure its more than $1 billion debt to Glencore and four banks.

Mining billionaire backs outback gas pipeline to ease power woes

The project, being considered by the federal government, may cost as much as A$5 billion ($3.9 billion), according to one industry estimate.

Major banks earned more in metals than oil last year

The world’s 50 biggest investment banks made revenue of $1.6 billion from trading, selling derivatives and other activities in metals last year.

Coal dead? Peak oil demand? Five takes on fossil fuels' future

Mining mogul Bob Murray offered a passionate defense of coal, asserting that we’d all “die in the dark” without it.

World’s top miner BHP quits global coal group over climate stance

The miner is withdrawing from the World Coal Association over a clash of views on how to fight climate change, with BHP saying it’ll reap little benefit from staying on as a member.

Teck ups stake in Chile Quebrada Blanca copper mine in $162.5m deal

Company now owns 90% of Compañía Minera Teck Quebrada Blanca, which main asset is the namesake copper project in Northern Chile.

Underperforming Keystone Pipeline still hurting Canadian oil prices: GMP FirstEnergy

The blowout in the price spread between Canadian heavy and U.S. light crude isn't narrowing substantially any time soon.

An oil price rally is likely

Geopolitical pressure is only able to influence oil prices to such a degree because the market is fundamentally getting tighter.

Open for business? Not BC

An onslaught of recent policies from Premier John Horgan's government has weakened B.C.'s investment climate, sending all the wrong signals to investors.

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.