The $696m move comes about a month after London-listed oil and gas major BP discovered further oil prospects in the Gulf of Mexico.
Oil Mining News
The company said it failed to reach an agreement with a client in a dispute over a mining project in Latin America, prompting it to slash its profit forecast by more than 40% for the year.
Canada’s largest diversified miner saw its quarterly profit drop 41.5 % from the year earlier, amid lower prices for copper, zinc and oil.
"The law allows 100 percent ownership...and you can apply for exploration or mining licenses."
EBITDA will be down by about $148 million.
Industry leaders now appear to be positive that growth can be achieved after several difficult years.
The Saudis have the two key ingredients to continue pumping oil till kingdom come—huge reserves and low production costs.
SOFAZ held 50.95 tonnes of gold worth $2.1 billion at the end of 2018.
Glencore lost exclusivity on Messla and Sarir.
The entire portfolio generates around $700 million in operating cashflow a year.
"CCS is a get-out-of-jail card and a great business opportunity,” - Michael Liebreich, founder of Bloomberg NEF research group.
Changes to Brazil’s 50-year-old mining regulations also came in effect Wednesday and include measures that make the country’s industry more competitive and sustainable.
To cut and push up prices or not to cut and preserve market share.
It’ll be an important week for iron ore, which has been badly beaten up in November.
Albuquerque, 60, will tackle offshore oil licensing rounds and planned energy privatizations.
If the required steps to fully implement the amended settlement do not take place Crystallex will go back to court to seize assets linked to Citgo.
Many of the political uncertainties weighing on commodity markets have a significant chance of being addressed in Buenos Aires.
The race to export U.S. shale oil overseas is about to get fierce.
Demand for Saudi crude may be lower in January compared with December - Khalid Al-Falih
King Salman inaugurated the Waad Al-Shamaal mining project, which is expected to boost the kingdom's GDP by $6.4 billion and its non-oil GDP by 3%.
Analysis shows oil consumption growing in coming decades, due to rising petrochemicals, trucking and aviation demand but meeting this growth in the near term means that approvals of conventional oil projects need to double.
Our options are actually quite limited when it comes to the globe’s energy dilemma, the answer is nuclear energy and lithium-ion battery storage technology. Now all we need to do is convince the politicians.
Do not expect higher gold prices due to the surge in inflation or dovish revolution within the Federal Open Market Committee.
After declining by more than 20 percent from the October peak, oil prices are showing some signs that they have now bottomed out.
The Mercenary Geologist Mickey Fulp discusses with Maurice Jackson of Proven and Probable how peak oil could inform investment in gold miners.