Global Roundup: Anglo Exits Coal, EIA Widens Oil Deficit, Eni Invests in Canada

Anglo American has agreed to sell its Australian steelmaking coal assets for up to $3.875 billion, marking a major step in its portfolio restructuring, according to a report from OilPrice.com. The mining giant announced the sale to Dhilmar Limited on May 18, 2026, as part of a plan first outlined in May 2024 to divest non-core businesses and focus on copper, iron ore, and crop nutrients.

The cash deal includes an upfront payment of $2.3 billion and a price-linked earnout of up to $1.575 billion. Anglo American CEO Duncan Wanblad stated the transaction completes the company's exit from steelmaking coal, delivering aggregate cash proceeds of up to $4.9 billion. The deal is subject to regulatory approvals, with completion expected by the first quarter of 2027. The move precedes Anglo American's planned merger of equals with Teck Resources, announced in September 2025, aimed at creating a critical minerals giant.

Separately, the U.S. Energy Information Administration has widened its projection for a global oil deficit in 2026, Rigzone reported. While the summary did not provide specific barrel figures, the revised outlook points to a tighter supply-demand balance for crude oil in the coming year. For Bakken operators, a widening structural deficit typically supports firmer long-term price fundamentals, which can influence drilling and completion budgets in the Williston Basin.

In other investment news, Italian energy major Eni has completed an investment in a Canadian battery feedstock project, according to Rigzone. The commitment is part of a $213.16 million capital raise via private placement for the second phase of Nouveau Monde Graphite's Matawinie Mine project. This move by a traditional oil and gas player into the battery materials sector highlights the ongoing energy transition and diversification strategies being pursued by major international companies.

The Anglo American divestiture underscores a continued strategic shift among global resource companies away from certain fossil fuels and toward metals critical for electrification and agriculture. For North Dakota's oil industry, the EIA's revised deficit forecast is a more direct signal, suggesting sustained demand for crude oil production from regions like the Bakken. Market tightening could help maintain operator cash flow for continued development in the play.