Oil Mining News

Low prices for oil cure low prices for oil

Veteran investor Bob Moriarty discusses one company that is poised to benefit from the volatililty in the oil markets.

Global oil supply could face 4.5 million barrels shortfall — Wood Mackenzie

Current oil oversupply could reverse within 20 years as low oil prices have forced pricers to slash spending on exploration and production, a report by Wood Mackenzie shows.

Shell Pipeline Launches New Interactive Customer Tool

Shell Pipeline Company LP's new, interactive online map tool will help customers learn more about all Shell Pipeline assets and identify new business opportunities.

CAPP sees 62% decrease in oil and gas spending for Canada

This reduction according to the Canadian Association of Petroleum Producers, is the largest two-year decline since the start of tracking this data in 1947.

$85 crude oil by Christmas – an interview with Mike Rothman

Oil prices may be gyrating up and down, but Mr. Rothman provided some juicy clues for investors, highlighting some key near-term trends for crude oil.

De-carbonizing our energy sector

Nuclear energy currently provides around 11 percent of the world's electricity.

TransCanada shuts Keystone pipeline after leak in South Dakota

The Keystone pipeline carries oil south from Canada through eastern North Dakota, South Dakota and Nebraska.

US lifted the crude oil export ban, and exports went…down

Just over three months after the authorities lifted the four-decade ban on crude oil exports, the U.S. has actually exported less this year than it did over the same period the year before, when the ban was still in place.

Current oil price rally reaching its limits

Oil prices have climbed by about 50 percent from their February lows, topping $40 per barrel. But the rally could be reaching its limits, at least temporarily.

Sustained oil prices rout could hurt Canadian economy — report

The country's western provinces, especially Alberta, would be most affected if low oil prices were to persist over the next seven years.

Goldman rains on everyone's parade, says commodities rally won’t last

The recent surge in prices of gold, oil and other commodities has come prematurely, says the bank, arguing that lower prices are needed for markets to rebalance.

Why oil booms and busts happen

What if I told you that there was a period in history where oil demand declined by 5 million barrels per day and non-OPEC supply increased by 5 million barrels per day, yet oil price rallied more than 50 percent?

TransCanada's Energy East pipeline faces Quebec injunction

The provincial government asked the court to order a halt until the project has complied with the environmental laws in place.

Glencore swings to loss on write-downs and collapsing coal, metal prices

The Switzerland-based mining and energy giant lost $5 billion in 2015.

Greenfield exploration in Australia picks up

Total area drilled (in metres) climbed by 6.9% during the December quarter, with activity in areas of new deposits increasing by 29.6%.

USA, Mexico energy policies a mounting risk for Canada’s oil sector — IEA

Heightened competition between NAFTA members to export crude oil, poses serious challenges for Canada, says the agency.

Venezuela, Canadian gold miner settle dispute in $5 billion deal

The agreement will see the parties embark on a joint venture that will run the Las Brisas and Las Cristinas mines.

Galway Gold mulls legal escape to Colombia’s mining ban in paramos

The junior miner said the ruling not only forces it to halt operations, but it also blocks it from transferring the project, as the mining permit will no longer be valid.

Who will be left standing at the end of the oil war

While there are billions of reasons to cut output, and every major producing country is reeling from the loss of revenues, some are weathering the current bust better than others, but the devil is in the details, and the details contain tons of variables.

Crude prices to remain depressed until 2017 even with oil sands coming to ‘standstill’ — IEA

Last year, the agency had forecast a "relatively swift" recovery. Instead, oil prices have continued to fall, hitting less than $30 a barrel, a level last seen in 2003.

Expect huge price swings next month

This past week was not for the ‘faint of heart’. All of the asset classes witnessed wildly volatile moves, which culminated in an 11% move of crude oil.

Cases of malaria on the rise in Colombia’s mining regions, study shows

Cases of the mosquito-borne disease in Colombia have been skyrocketing, but only in areas where mining activities have increased, a new study shows.

Decline of coal demand is ‘irreversible’

Goldman Sachs report is the latest in a long line of grim warnings, all of which point to a future of shuttered power plants, mine closures, and bankruptcies.

Argentina’s new government scraps mining taxes

President Mauricio Macri has revoked a 5% tax imposed by the previous administration on mining companies.

TransCanada posts $2.5bn loss in Q4 on Keystone XL charge

The net loss also included a number of other smaller items, partially offset by an increase in revenue to $2.85 billion from $2.62 billion.