Mining, Drilling and Discovery
The action, process or good fortune of discovery or discovering oil, gas or mining deposits. Disclaimer : this page is not intended for any specific nationality or jurisdiction. It is also not intended to solicit clients from any specific jurisdiction including the Republic of Mauritius inter alia.
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Gold prices end with a loss for the session, but tally a third consecutive weekly gain as political uncertainty continues to boost investment demand for the metal.
"Gold “remains bullish in the short term amid the rising political risks across the globe and could edge higher towards $1,250 if the revived [U.S. Federal Reserve] uncertainty bolsters the yellow metal’s attraction further,” he said."
Metal edges up to $1,241.66 amid investor uncertainty about US and European politics and the direction of stock markets
"Gold crept higher on Friday as investors opted for the safe-haven qualities of bullion due to uncertainty about US and European politics as well as the direction of stock markets."
World Gold Council data released earlier this month reveal a paradox. Demand hit 4,389 tons during 2016, but mines produced only 3,236 tons
“When you talk about fighting with no rules,” said the late martial artist, in the lost Bruce Lee interview, “you had better learn to use every part of your body. Your feet. Your elbows. Thumbs. Everything.”
Some banks will start testing a new bullion-trading platform next week as part of the London Bullion Market Association’s push to make the city’s over-the-counter market more modern and transparent.
"Some banks will start testing a new bullion-trading platform next week as part of the London Bullion Market Association’s push to make the city’s over-the-counter market more modern and transparent."
The yellow metal was trading 0.19 per cent, or Rs 56, down at Rs 29,360 around 10.15 am (IST), while the white metal was down 0.15 per cent, or Rs 66, at Rs 42944 per 1 kg.
"For today’s trading session, Angel Broking Commodities in a research note said, “We expect gold prices to trade higher on Friday as uncertainty continues to haunt investor’s flight towards safe haven, while weak dollar index would also be supportive for gold prices.”
As technology costs decline while battery deployments proliferate, existing niche markets for storage will expand, opening new markets and value-streams. Here's how investors can take advantage.
"While a fusion reactor’s huge load may need storage to buffer its use, the rest of us don’t have to worry turning on our lights or microwave will destabilize the grid.
The divide between red and blue states seems larger than ever before, which is why it’s encouraging to see there are still topics that can foster political convergence. Recently, I’ve seen a small beam of hope around energy economics.
"The divide between red and blue states seems larger than ever before, which is why it’s encouraging to see there are still topics that can foster political convergence. Recently, I’ve seen a small beam of hope around energy economics."
Rebuttal comes as shareholders launched an investigation over possible false and misleading statements made by the miner about its Pebble copper-gold project in Alaska.
"Kerrisdale Capital of New York said Tuesday the project was not commercially viable and that it really is a low-grade deposit that would require too much upfront investment to ever generate profits."
The Hohe See wind park, to be located in the North Sea, has a planned capacity of about 500 megawatts.
"EnBW’s 1.8 billion euro ($1.9 billion) Hohe See wind park, to be located in the North Sea, has a planned capacity of about 500 megawatts (MW), which makes it one of Europe’s largest projects of its kind and the German utilities company’s largest park to date."
With material haulage comprising roughly 50% of a mining operation's costs, it's not a shock to learn that tire replacement is an expensive endeavour.
"Given the loads that the largest mining trucks are capable of moving, upwards of 400-500 tonnes in offerings by Caterpillar, Terex, Liebherr, Belaz and Komatsu, it's no surprise that the tires on which these dirt beasts rest must provide as strong a base as possible in order to prevent punctures and expensive, time-consuming interruptions for tire changes and repairs."
Water and Sanitation Minister Nomvula Mokonyane has lauded the successes achieved by the Eastern basin acid mine drainage (AMD) treatment plant, which is located in the town of Springs, in Gauteng, since it began operating in June 2016. The R1-billion plant was completed under the instruction of State-owned water management and project implementation authority Trans-Caledon Tunnel Authority (TCTA), as directed by the Department of Water and Sanitation (DWS). The plant is operated by industrial water treatment company Tecroveer Thanda Manzi, under the auspices of TCTA.
Despite bullish noises from OPEC regarding further cuts, oil prices remain stuck in the mid-$50s, as volatility plummets to its lowest level in three years
"Despite hints from OPEC that the cartel would be extending its production cut deal, oil prices fell slightly this week. Oil continues to trade within a range with volatility falling to almost a three year low."
TransCanada Corporation reportedly filed an application for its Keystone XL pipeline to pass through the state of Nebraska on Thursday
"After President Trump signed executive orders that put Keystone XL and Dakota Access back on the table, TransCanada was quick to submit a new application for a permit that would clear the way for the construction of its Keystone XL pipeline."
The U.S. oil and gas rig count has increased yet again, increasing downward pressure on oil prices
"The total number of active oil and gas rigs in the United States is now 751, according to oilfield services provider Baker Hughes, which is 237 rigs above the rig count a year ago."
As Norway’s economy has slowly started to recover from the oil price bust, the number of job openings in the oil and gas industry rose
"The number of job vacancies in Norway’s oil and gas industry rose in the fourth quarter last year compared to the fourth quarter of 2015, in what could be early signs of recovery after the oil price slump."
Oil prices are falling on Friday morning as record crude and gasoline inventories increase downward pressure for the commodity
"A month ago we discussed how ADNOC (Abu Dhabi National Oil Company) had secured the renewal of a contract to store 6.3 million bbls at Okinawa in Japan. ADNOC has a similar arrangement with South Korea, with 6 million barrels of its light sour Murban grade stored at Yeosu."
Natural gas has fallen to a new three-month low thanks to lower-than-expected draws on storage
Kuwait, one of the strongest supporters of the OPEC output cut deal is boasting that its own production has now reached 2,75 million bpd, above the targeted levels of the cartel
"According to remarks by the CEO of Kuwait Oil Company, Jamal Jaafar, reported by Kuwait News Agency (KUNA) on Thursday, the total production of the country has reached 2.75 million bpd."
Both BP and Eni are focusing investment in Egypt, with natural gas exploration and production promising to turn the country’s energy sector around
"But Cairo’s fortunes may have turned in August 2015, when Italy’s oil and gas major Eni SpA discovered Zohr, the largest gas field in the Mediterranean ever to be discovered."
Contrary to the philosophies of American energy companies, Charlie Munger believes the U.S. should sit on oil and gas reserves until OPEC supplies run dry
"The United States should delay extracting oil and natural gas from the ground until supplies in the Middle East run low, forcing countries who were previously our suppliers to pay a premium for American energy products, according to Berkshire Hathaway’s Vice Chairman, Charlie Munger."
After North Dakota’s largest-ever increase in production in October, production data for December reveals their largest-ever decrease in production
"Bakken production down 86,150 barrels per day 895,330 bpd. North Dakota production down 92,029 bpd to 942,455 bpd. It was noted that this the largest decline ever in North Dakota production. But it should not be overlooked that the October increase in production was also the largest ever increase in North Dakota production."
Emergency evacuation of protesters stationed at Oceti Sakowin protest camp ordered as builders of the DAPL near the end of their construction
"Governor Doug Burgum of North Dakota ordered on Wednesday the emergency evacuation of protestors stationed at the Oceti Sakowin protest camp, sitting right on the edge of the Standing Rock Sioux Reservation, as the builders of the Dakota Access pipeline near the end of construction."
To reduce India’s dependence on imports, the government awarded private oil companies licenses to develop 2/3 of the 31 small oil and gas fields
"The rest of the fields were awarded to state-owned companies, including Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum Corporation. Bharat Petroleum got the most licenses, for five fields, after bidding for eight.
Marathon Oil will allocate US$2 billion, less than 10 percent of its total budget for the year, for development of its oil-producing assets at home
"The 2017 capital budget is twice the size of what Marathon spent in 2016, though the initial 2016 capex was planned at US$1.4 billion. Exxon, Chevron, and Hess Corporation were also among the energy majors that plan to spend more this year than last.
Tunisia records a 10 percent drop in crude oil and natural gas production due to persistent social unrest and technical failures in production locations
"Tunisia has recorded a drop in crude oil and natural gas production of 10.1 percent in 2016 compared to the previous year, in line with forecasts made by authorities last summer."