Oil Mining News

Oil tanker still on fire in the East China Sea

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

U.S. expects domestic crude output to hit records in 2018, 2019

Oil production is seen as topping 11 million b/d in November 2019.

Commodities forge record-setting rally as BP to miners surge

The Bloomberg Commodity Index, which tracks returns on 22 raw materials, was poised for an unprecedented 15 days of gains on Thursday.

What is an ETF?

How does it work? What are the pros and cons? A Visual Capitalist infographic explores ETFs.

The one sector you want to own in 2018 (and 3 sectors to avoid)

In this post I will lay out which sector I believe will do well against a backdrop of rising inflation and rising bond yields (including offering some stock picks), and I will also specify which sectors and asset classes you will want to avoid in 2018.

Oil tops $60 at close of year

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.

Venezuela backs its new cryptocurrency with 5 billion barrels of crude

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."

China halts oil product exports to North Korea in November as sanctions bite

Beijing also imported no iron ore, coal or lead from North Korea in November.

Oil-rich Venezuela is out of gas

"In Venezuela, we are out of gas. In Venezuela, there is no gas oil. In Venezuela, there are no lube oils."

The one indicator OPEC must watch

Last week, OPEC decided to extend its production cuts through end of 2018. The target is now to bring global oil inventories back down to the 5 year average.

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.

Hebron project off Newfoundland coast kicks off oil production

It's expected to help Atlantic Canada offshore production rise 44% to 307,000 bpd by 2024.

Enbridge, Michigan reach deal to boost pipelines safety, protect the Great Lakes

Agreement aims at boosting the safety of twin pipelines beneath the waterway where Lakes Huron and Michigan converge.

Commodities facing another tough year in 2018, JPMorgan says

Overall commodity returns have been lackluster this year, and face more poor performance in 2018, according to JPMorgan Chase & Co.

Nebraska OK's Keystone XL Pipeline, but more obstacles in the horizon

State has approved controversial project but insisted on alternative route, could add further complications.

Russia's VTB Capital aims to double gold sales to China in 2018

Russia's gold-trading banks trying to increase presence in Asian markets, especially since demand for Russian gold in European trading hubs slow since 2014.

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.