Tag: Oilsands
Harvest re-starting work on 10,000 b/d Blackgold oil sands project
With oil prices stabilizing, Harvest decided to move forward with BlackGold Harvest Operations Corp. announced the decision to re-sanction and complete the construction and commissioning of its 10,000 bbl/d BlackGold SAGD oil sands project near Conklin, Alberta, according to a press release. Harvest had previously suspended work in early 2015 dues to the drastic fall […]
Oil sands buyouts pay off with higher output, lower costs
Oil sands buyouts have resulted in more efficient operations Canadian companies who bought out global oil majors in some Alberta oil sands operations are reporting higher output and reduced operating costs in the wake of the much maligned buyouts. In March, CNRL, Shell and Marathon announced the $12.74 billion deal which saw the Canadian company […]
Gibsons Energy building 1.1 million barrel oil sands storage expansion
Tanks underpinned by long-term, senior, investment grade, oil sands customer Gibson Energy Inc. announced construction of 1.1 million barrels of new tankage at its Hardisty Terminal, according to a company press release. The two 300,000 barrel tanks and one 500,000 barrel tank are expected to be placed in service in the third quarter of 2019 […]
$2 billion Japan Canada Oil Sands expansion ramps up near Fort McMurray
Japan Canada Oil Sands first Japanese-owned company to invest in the oil sands, starting in 1978 Premier Rachel Notley, representatives from Japan and local officials marked the opening of the Japan Canada Oil Sands Ltd. Hangingstone project near Fort McMurray, according to a press release. This Steam Assisted Gravity Drainage (SAGD) project is the culmination […]
Canadian innovations continue to shape the future of energy
In 2016, SAGD used for 36% of oil sands production, up from 20% in 2010 Canada turns 150 on July 1 and what many Canadians may not know is the role our country has played innovating energy technology. Energy has always been a big part of the national economy, but it hasn’t always been easy […]
Oil sands panel recommends aggressive action to stay under 100 megatonne emissions cap
Oil sands production at 2.5 million b/d, projected growth to 3.7 million by 2030, expected to stay under 100 MT emissions cap The first phase of the Oil Sands Advisory Group (OSAG) concluded and released its report with recommendations to the Alberta government on keeping the growing oil sands in compliance with its legislated 100 […]
Cenovus CEO to be replaced, noncore asset up for sale
Cenovus CEO Brian Ferguson replaced after ConocoPhillips deal Cenovus CEO Brian Ferguson will be replaced after the unpopular deal to purchase ConocoPhillips oilsands assets in March sent company shares plummeting by half, wiping out nearly $7 billion in value. Following the announcement, shares in the Alberta oilsands company fell a further 10 per cent. The […]
CAPP raises Canadian oil growth forecast, calls for pipelines
Canadian oil output up by one-third by 2030 The Canadian Association of Petroleum Producers is predicting Canadian oil production to grow by one-third to 5.1 million barrels per day (b/d) by 2030, despite decreases in capital spending. This is the first time in four years that CAPP has raised its predictions. In 2013, the industry […]
Nigeria, Libya oil swamping global market with light oil may help price of Alberta heavy crudes
Mexican, Venezuelan heavy crudes output declining OPEC’s struggles to rebalance global oil markets may – a well qualified may, though, – have an upside for Canadian heavy crudes, most of which are produced in Alberta from the oil sands. Nigeria and Libya, which are exempt from a OPEC global production-cutting deal, are swamping the Atlantic […]
Enbridge eyes market share on cloudy competitors’ future
Enbridge forecast rise in adjusted earnings for 2017 The Executive Vice President of Enbridge Inc says the pipeline company will take advantage of its competitors’ woes to gain market share and may begin early discussions on a new tolling agreement after 2022. Guy Jarvis did not name the rivals, but did tell attendees at an investors event […]
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