Oil Mining News

What a Westinghouse bankruptcy could mean for U.S. utilities

The two U.S. utilities with the most at risk are Southern Company and SCANA Corp.

Donald Trump approves Keystone XL pipeline

He said the project would employ 28,000 people, with TransCanada predicting only 13,000 temporary construction jobs and the US State Department saying only 50 of them will be permanent positions.

Trump's repeal of anti-corruption rules could give US companies advantage over industry peers, says Fasken Martineau white collar expert

On February 14, 2017, President Trump signed into law a joint resolution of Congress to repeal a critical anti-corruption rule for oil, gas and mining companies.

Illegal gold mining in Venezuela causing deaths, malaria, gang fights and deforestation

A three-year recession in Venezuela paired with ramping inflation and food shortages has prompted many mining for gold in mafia-run illicit operations.

Exploration spending in Australia finally on its way up

A 3.4% increase in the December quarter seems to indicate that the downward trend of the past five years has been finally reversed.

Wood Group buys rival Amec Foster Wheeler for $2.7 billion

Takeover brings together two of the UK's largest energy services companies.

Shell sells Canadian oil sands businesses in deals worth $8.5 billion

Once the deals close, there will be only three major companies — CNRL, Suncor and ExxonMobil majority-owned Imperial Oil Ltd. — dominating Canada's oil sands industry.

Is a second OPEC cut on the cards?

Analysts and experts are now mostly predicting that oil prices will remain below US$60 this year.

Oil majors' costs have risen 66% since 2011

The oil majors reported poor earnings for the fourth quarter of last year, but many oil executives struck an optimistic tone about the road ahead

Next oil rally? Futures say market Is tightening

U.S. oil inventories are at record levels, but there are a few glimmers of hope that the glut could be starting to subside.

Have the majors given up on Canada’s oil sands?

Canada’s oil sands could struggle to rebound, with potentially billions of barrels of oil being kept underground permanently.

Glencore’s profit soars on commodities rebound

A surge in commodity prices combined with its multibillion-dollar asset fire-sale has put the company in a position to pay big dividends and explore acquisitions.

BHP Billiton back into the black, pays higher-than-expected dividend

Net profit was $3.2bn for the six months to December 31, compared with a loss of $5.7bn in the same period a year earlier.

This oil nation aims to colonize Mars

The UAE may not be the first country that comes to mind when one thinks of space exploration, but it has big plans to colonize mars, and it’s got the oil money to do it.

Enbridge buys stake in one of Europe’s largest wind parks for $1.7bn

The Hohe See wind park, to be located in the North Sea, has a planned capacity of about 500 megawatts.

Teck swings to profit in Q4 but misses expectations

The firm, North America's No.1 producer of coking coal, benefitted from the price rally — steelmaking coal climbed 155.5% to $207 in the quarter.

BHP to spend $2.2bn on US Mad Dog oil project

Expansion has the potential to increase production to 140,000 barrels of oil per day from the about 80,000 barrels it currently generates.

Teck, Suncor up cost of Fort Hills oil sands project

Cost per barrel, however, will remain at about $84,000 per flowing barrel of bitumen.

The oil war is only just getting started

It's been a month now that investors and analysts have been closely watching two main drivers for oil prices: how OPEC is doing with the supply-cut deal, and how U.S. shale is responding to fifty-plus-dollar oil with rebounding drilling activity.

CHART: Mining rally continues into 2017

Seaborne coal, tin prices are the big exceptions.

US, Canadian engineers back Keystone XL application, urge swift approval

Operating Engineers in the U.S. and Canada stand ready to build this essential piece of North American energy infrastructure.

TransCanada submits new application for Keystone XL permit

The company has spent at least $2.5 billion on the project, whose total cost if built would be at least $10 billion due to delays and permitting costs.

Oil poised to reach $80

We've been bullish on oil prices and published a piece last April predicting an energy shortage. I continue to think that is where we're headed.

Trump greenlights Keystone XL and Dakota Access pipelines

The US President has signed two separate orders that advance the construction of TransCanada’s Keystone XL and Energy Transfer Partners LP’s Dakota Access oil pipelines.

The top 5 places to work in U.S. oil and gas

Anadarko Petroleum and Chevron have emerged as the top two employers in U.S. oil and gas, according to a survey conducted by the job site Indeed.