Archive for the ‘Oil Sands’ Category
CAPP: Oil pipelines urgently needed
June 23rd, 2016 by Latest News
Oil pipelines are “urgently needed” in Canada, the Canadian Association of Petroleum Producers said in its 2016 Crude Oil Forecast, Markets, and Transportation report.
One month after massive wildfires forced evacuations in northern Alberta, oil companies are slowly resuming operations.
Imperial Oil Ltd. said operations have returned to normal at its Kearl oil sands site and that the plant was not damaged by the Alberta wildfires.
Pengrowth Energy Corp., Calgary, said it received regulatory approval for the second commercial phase of the Lindbergh thermal project in the Cold Lake area of eastern Alberta.
IEA: Oil supply surplus to shrink in second half
May 23rd, 2016 by Latest News
In its May Oil Market Report, the International Energy Agency states that the global oil market is “staying on course” to be balanced.
Heavy crude oil from western Canada available for export to the US in 2035 could be as high as 3.9 million b/d or as low as 2.5 million b/d, depending on pipeline developments, says the Canadian Energy Research Institute.
Operators report no major damage from Alberta fires to oil, gas facilities
May 11th, 2016 by Latest News
Alberta’s wildfires have created havoc, but Alberta Energy Regulator said on May 10 it had no reports of damage to energy facilities.
MARKET WATCH: Oil prices fall on reports of slowing in spread of Canadian wildfires
May 10th, 2016 by Latest News
Light, sweet crude prices settled below $44/bbl on the New York market on May 9, down more than $1/bbl on reports that the spread of Canada’s wildfires has slowed and the blaze has moved away from key oil sand production areas, at least for now.
One subtle but politically important result of the oil market’s upheaval is relocation of supply constraint.
Imperial reduces production at Kearl in Alberta
May 6th, 2016 by Latest News
In response to the ongoing fire crisis in Alberta, Imperial Oil Ltd. has reduced production at its Kearl oil sands plant northeast of Fort McMurray. The physical plant is unaffected by the fires.