Drilling & production

BHP Billiton has announced a substantial drop in profits in the six months to December 2012 as weak commodity prices continue to plague the mining industry.

US judges have approved Transocean’s US$ 1.4 billion settlements for criminal and civil charges relating to 2010’s Macondo oil spill.

Alistair Buchanan, head of the UK’s energy regulator, Ofgem, has warned that the UK could face a “rollercoaster” energy market in the years to 2020, with reserve margins becoming increasingly tight.

Coal Marketing Co., the exclusive carrier of coal from the Cerrejon mining operation in Colombia, has declared force majeure on 900,000 t of coal shipments due to ongoing industrial action.

South African thermal coal miner, Continental Coal, has released production figures for its Penumbra, Ferreira and Vlakvarkfontein coal mines.

Xstrata Coal will take over day-to-day operation of the Collinsville coal mine from contractor Thiess, after the mine made substantial losses in 2012/13.

Vale has declared force majeure on some shipments from Mozambique, as heavy rain continues to hit the Sena railway.

Alleged dodging of royalty payments on US coal exports to Asia will be the focus of an investigation by the US Department of Interior.

Anglo American becomes the second mining major to dip into the red, announcing pre-tax losses of US$ 239 million.

Kentucky Coal Association and the Coal Prep Show announce the KCA Symposium to promote discussion of current issues facing the US coal industry.

Teekay LNG has ordered two LNG carriers with dual fuel, two stroke gas injection engines

Anglo-Australian mining giant, Rio Tinto, has announced a US$ 3 billion loss in 2012, following massive writedowns on its aluminium and Mozambique coal businesses.

Drewry’s latest Tanker Forecast report predicts that overcapacity will result in a difficult year for oil tankers.

US President Obama offers no leadership on oil and gas in State of the Union, states GlobalData consultant.

Cloud Peak Energy has signed an agreement with SSA Marine that provides it with an option to export up to 16 million tpa through the proposed Gateway Pacific on the US West Coast.