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Mining Company BHP Billiton Iron Ore Production Highest Recorded
Mining company BHP Billiton iron ore production reported from several locations of their iron ore mines to reach the highest rate in the quarter. The highest production of iron ore from the Pilbara region, Western Australia. Production of iron ore from iron ore mines in the Pilbara region of about 54%.
Boom in US Production Drives Down Natural Gas Prices
Natural gas prices have fallen dramatically this year much like crude prices, but shrinking demand is only one culprit. The other is a gas glut from a boom in U.S. production.
Mining Company, Xstrata To Accept a Cut in Prices Coal Mine Contract in Japanese Utilities
Xstrata Plc, the world’s biggest exporter of power-station coal, has been forced to accept a cut in prices for annual calendar-year contracts for the fuel with Japanese utilities, Citigroup Inc. and Merrill Lynch & Co. said.
Australia Cut Export Coal, Iron Ore Mine and Commodity Sales Forecast 10% on Crisis
Australia, the world’s largest shipper of coal, iron ore and wool, cut its commodity exports forecast by 10 percent because of the global financial crisis that may continue to hinder any recovery until the second half next year.
Petro-Canada’s Production Expected to Increase in 2007; Capital Program Focused on Long-Life Assets
Highlights
Upstream production growing approximately 15% over 2006 levels
$4.1 billion capital program planned, up 15% over 2006
Capital expenditures focused on projects that provide long-term sustainable cash flow
Petro-Canada’s Board of Directors approved a capital and exploration expenditure program totalling $4.1 billion for 2007, an increase of 15% compared with the program in 2006.
The 2007 capital program includes [...]
Petro-Canada Increases Quarterly Dividend By 30%
Petro-Canada today declared a quarterly dividend of $0.13 per share on the Company’s outstanding common shares – a 30% increase compared with the $0.10 per share dividend declared in October 2006. The increased dividend will be payable on April 1, 2007 to shareholders of record at the close of business on March 3, 2007.
“We [...]
Mining To Slow Slowly Over Next Two Years
Here’s some good news for the big end of the market where resources are still booming. Leading economic forecaster and industry analyst BIS Shrapnel sees the current boom lasting through until the end of 2008.
It said yesterday that with work in the pipeline and more projects still to start, “investment is forecast to rise another [...]
Commodity Strategists: Biofuel May Cause Oil Slump (Update2) Commodity Strategists: Biofuel May Cause Oil Slump (Update2)
Crude oil prices in New York may tumble to $40 a barrel next year as demand for biofuel made from crops spurs investors to switch from energy to agricultural commodities, said Tetsu Emori, chief commodities strategist at Japan’s Mitsui Bussan Futures Ltd.
Shifting to biodiesel and ethanol additives may slow the growth of demand for gasoline [...]
Techs, Autos Lead Europe Higher
European markets finished steeply higher, boosted by gains on Wall Street, as well as strength in the technology and automotive sectors. French telecom-equipment maker Alcatel rose 2.8%, and automaker Volkswagen gained 3.2% to help market higher. The French CAC 40 led European gainers, climbing 1.2%, followed by the German DAX 30, up 0.9%, and London [...]
