Oil Mining News

Cenovus resuming Christina Lake oil sands expansion, boosts capex

Construction of the 50,000-barrel-a-day expansion will begin in the first half of 2017, the company said.

Risk of potential oil tanker spill ‘close to zero' — experts

Pipeline ruptures, bunker fuel spills pose a greater risk than a major oil tanker spill, they say.

Video | Energy sources 101: these short videos explain the basics

If you’ve ever searched online for unbiased and fact-driven articles on energy, you’ve probably noticed that they can be quite rare. Almost every information source seems to be pushing an agenda.

Here’s what oil did the last time OPEC cut production

It finally happened. For the first time since 2008, the Organization of Petroleum Exporting Countries (OPEC) agreed to a crude oil production cut last week, renewing hope among producers and investors that prices can begin to recover in earnest after a protracted two-year slump, one of the worst in living memory.

Montney in high gear despite market uncertainty

Flux in gas demand, delay in Petronas decision among clouds on B.C. northeast’s horizon.

EPA’s proposed financial responsibility rule for miners a ‘job killer’ — industry

Norm aims at ensuring that hard-rock mining companies can pay the costs of cleaning up their mines, says EPA.

Glencore to resume dividend in 2017 as debt reduction on track

Soaring coal prices have helped Glencore, the world’s biggest provider of the thermal kind, straighten its balance sheet.

Oil comes back to life in Canada

Two years after the collapse in oil prices forced the oil and gas industry to scale back drilling, the Canadian Association of Oilwell Drilling Contractors (CAODC) is forecasting a year-over-year increase in the number of wells drilled in Canada.

Donald Trump’s stock in Dakota Access oil pipeline company prompts concern

Trump’s investments could affect any decision he makes on the US$3.8 billion project as president.

Why Mexico's oil reform is a huge opportunity for investors

When a massive country de-nationalizes its entire energy sector and opens its oil and gas doors for the first time ever to foreign companies, the opportunities are staggering.

Oil consumption outlook fuels further pipeline debate

Fossil-fuel-free future far off as world demand to increase, says the International Energy Agency.

Shell Canada boss says stay the course on carbon pricing as Quest CCS project exceeds expectations

Royal Dutch Shell, a long-time advocate of pricing carbon, says the strategy needs to be maintained regardless of what happens south of the border.

Are the Saudis about to reveal the best kept secret in oil?

Saudi Arabia is preparing to unveil how much oil it holds, a closely guarded state secret that has been kept quiet for decades.

Where do our raw materials come from?

Who mines the copper, grows the timber, makes the cement and harvests the coffee all fueling our modern lives?

OPEC's bearish report provides little hope for oil markets

OPEC has released a new market whammy, offering up the cartel’s production figures, which largely jive with figures reported by the IEA.

IEA warns global markets to remain flooded with oil without OPEC cut

Escalating production from both the OPEC and other global players, including Russia, Brazil and Kazakhstan, could lead to relentless supply growth, the IEA said.

Coal, oil industries see brighter future after Trump victory

He has promised to ease regulations on the coal and oil sectors, and pull the US from global agreements aimed to curb climate change.

Major Aussie miners BHP, Hancock to mine in Ecuador — report

Ecuador began last month granting licences for new exploration areas, with over 300 of them to be awarded by the year-end.

Uncertainty about OPEC and US election leads to oil price drop

Oil prices have rebounded slightly after speculation about OPEC's ability to cap production later in November and uncertainty surrounding the U.S. presidential election sent them sliding last week, a drop that affected the portfolios of investors across the board.

Japex postpones oil sands expansion project to mid-2017

Move will push up costs by Cdn$250 million ($187M).

Platts China Oil Analytics: China apparent oil demand slipped 2.4% year over year in September

Actual demand likely higher as underreporting tends to skew official production data.

Electric cars to reshape copper and oil demand

EVs could demand enough copper, other metals to dwarf oil market fallout: BHP

Glencore did better as commodity trader than miner in Q3

While output was down for most commodities it mines and sales, it has improved earnings forecast for its trading unit.

Canada’s Alberta wants to cap oil sands emissions

If passed and enacted, the ruling will forbid oil sands producers from collectively emitting more than 100 megatonnes of greenhouse gases a year.

Suncor Energy sells Petro-Canada Lubricants business for $1.125 billion

Sale includes PCLI's production and manufacturing centre in Mississauga, Ontario and the global marketing and distribution assets held by PCLI including its global offices.