Archive for the ‘Oil Sands’ Category
About 88,000 residents of Fort McMurray in northern Alberta have been evacuated from a wildfire that has destroyed or damaged 1,600 structures. Alberta Premier Rachel Notley called the event the biggest evacuation in the history of the province.
A wildfire raging in the Regional Municipality of Wood Buffalo nearby Fort McMurray, Alta., has forced the mandatory evacuation of tens of thousands of people from the area and has caused many oil sands operators to cut production.
Groups welcome Alberta royalty changes
April 30th, 2016 by Latest News
Oil and gas producer associations welcomed royalty innovations published Apr. 21 by the Alberta government for new wells not in the oil sands.
Suncor Energy Inc. is to buy an additional 5% of Syncrude Canada Ltd. for $937 million (Can.) from the Canadian subsidiary of Murphy Oil Corp. The purchase will bring Suncor’s interest in Syncrude to 53.74% and close out Murphy’s participation (OGJ Online, Dec. 9, 2015).
Teck Resources Ltd., Vancouver, BC, said construction of the Fort Hills oil sands project in northern Alberta is more than half completed. It was 40% complete last September.
Alberta premier seeks national pipeline help
April 8th, 2016 by Latest News
Warning of a $10-billion budget deficit, Alberta Premier Rachel Notley appealed for nationwide help securing approval of a pipeline linking her province’s oil sands with seaborne oil trade.
Imperial Oil Ltd., Calgary, has filed regulatory applications with Alberta Energy Regulator for a 50,000-b/d expansion of its steam-assisted gravity drainage (SAGD) oil sands operations at the Cold Lake lease area.
Athabasca Oil Corp. (AOC), Calgary, said bitumen production from its Hangingstone 1 steam-assisted gravity drainage oil sands project in Alberta has reached 8,000 b/d and is on track to reach design capacity of 12,000 b/d in this year’s fourth quarter.
CERI: Low oil prices hurt Canadian economy
March 8th, 2016 by Latest News
Persistence of low crude oil prices through 2021 would hurt more than help the Canadian economy by constricting oil-producing and affiliated industries, finds a study by the Canadian Energy Research Institute.
BP: Fossil fuels to remain ‘dominant form of energy’ through 2035
February 22nd, 2016 by Latest News
Global energy demand between 2014 and 2035 is expected to rise 34%, an average of 1.4%/year, with fossil fuels remaining “the dominant form of energy over the period,” according to the 2016 edition of the BP Energy Outlook.