Cheap Gas Killing US Coal -Rystad
A new study revealed that coal power is being replaced by cleaner energy sources in the US – primarily due to an abundance of cheap natural gas.According to Rystad Energy, new renewable energy capacity from solar and wind is on the rise in the US, and April 2019 marked the first month when more electricity was generated in the country from renewable sources than from coal.However…
Wyoming, Utah Mull Funding Legal Challenges to West Coast Coal Policies
Lawmakers in coal-producing Utah and Wyoming, faced by a shrinking market for the fuel, this week introduced laws to fund legal challenges in California and Washington of policies that they believe hurt coal sales. A Utah lawmaker on Monday proposed allocating $2 million to cover legal fees to private attorneys that would challenge a California surcharge on Utah coal, imposed as part of a cap-and-trade system to cut greenhouse gas emissions there.
Trump May Not be Able to Save U.S. Coal
Donald Trump's election has thrown an apparent lifeline to beleaguered coal producers but he may not be able to do much to revive the fortunes of the industry. The U.S. coal industry has been a victim of the shale revolution and the enormous quantities of cheap gas that have been unleashed by hydraulic fracturing and horizontal drilling. There is not much a future Trump administration can do to protect coal producers…
Poland's PGNiG Has No Plans to Buy More Coal Assets
Poland's state-run gas firm PGNiG does not envisage further acquisitions in the troubled coal mining industry, the head of PGNiG Termika unit, Wojciech Dabrowski, said on Thursday. "When it comes to coal mining assets we do not envisage further acquisitions," Dabrowski told reporters when asked whether PGNiG could be interested in taking part in a potential share issue of coking coal miner JSW.
Miners Trapped after Accident in Russia's Arctic Pronounced Dead
The 26 miners who were trapped in a Russian coal mine above the Arctic circle have died and rescue operations have been halted after a third blast underground killed several rescue workers, emergency services said on Sunday. The miners were trapped on Thursday after a sudden leak of methane gas caused two blasts that led parts of the Severnaya mine in Vorkuta to collapse. President…
Coal's Blind Optimism Fades
Battered and beaten, the coal industry finally seems to be moving from blind optimism that things will somehow get better to a more realistic hope that it can survive, albeit in a smaller, less influential manner. A common theme at coal conferences over the past few years is that prices have finally reached a bottom and that a recovery is just around the corner. Given that global coal benchmarks are currently in their fourth consecutive year of declines…
Citigroup to Cut Coal Financing
Press release - Citigroup has released a new policy to cut its lending to the global coal mining industry. This is the second major bank to cut financing for coal mining this year after Bank of America announced a similar policy in May, following years of campaigning by Rainforest Action Network (RAN) and allied groups. Europe’s third largest bank Crédit Agricole also adopted a similar commitment earlier this year, under pressure from European organizations.
Exxon, Eni, Sasol Bid for Mozambique's Unexplored Fossil Fuel Bounty
Exxon Mobil, Italy's Eni and South Africa's Sasol are among the firms that submitted bids to explore new blocks for fossil fuels in Mozambique and off its Indian Ocean coastline, a senior official said on Thursday. A total of fifteen blocks in some 76,800 sq km were included in the fifth licensing round for which the Institute of National Petroleum (INP) closed bidding on Thursday.
Poland Sees Coal Mining Restructuring Costs at $631 mln
Poland expects the costs of restructuring its ailing coal mining industry to be 2.3 billion zlotys ($631.24 million) in 2015-2016, with the plan including shutting down four mines owned by Europe's biggest coal producer Kompania Weglowa. The government said in a statement on Wednesday that Kompania Weglowa's remaining nine mines would be transferred to a special purpose company owned by Polish coal trader Weglokoks.
Mozambique Extends Bidding for Oil & Gas Blocks
Mozambique has extended by over three months a licensing round for 15 new offshore and onshore blocks for gas and oil exploration and production, a senior government official said on Monday. When the blocks were unveiled in October, the government said bids would be accepted until Jan. 20, 2015. That has now been extended until April 30 because of the level of interest and company requests for additional time…
Mozambique: $30b Invested for 2018 LNG Export
More than $30 billion will be invested initially in Mozambique's natural gas sector to build capacity to produce 20 million tonnes per year of liquefied natural gas (LNG), with the first exports due to start in 2018, the national oil company said. The investments will be made to develop the northern ports of Pemba and Palma, where a giant logistics base and LNG production plants…
