Archive for the ‘Oil Sands’ Category
Cenovus Energy Inc., Calgary, has reduced its planned capital spending for 2016 by an additional 20% to $1.2-1.3 billion (Can.), down 27% from that of 2015 and 59% from that of 2014. The firm outlined its initial 2016 budget in December.
BP: Fossil fuels remain to ‘dominant form of energy’ through 2035
February 10th, 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.
Balance in Alberta
February 8th, 2016 by Latest News
Creative pragmatism challenges environmental dogma in Alberta. With two important decisions important to oil sands development, a government less than a year in office has eased fear it will yield to pressure from climate extremists.
WoodMac: Distressed oil keeps flowing
February 5th, 2016 by Latest News
Far less oil production has been shut in worldwide than generates negative cash flow because of the slump in crude oil prices, reports Wood Mackenzie.
Suncor Energy Inc., Calgary, has cut its capital guidance for 2016 to $6-6.5 billion from $6.7-7.3 billion reported in November.
NEB: Oil sands output gains to continue
January 28th, 2016 by Latest News
Production from the Canadian oil sands will increase through 2040 even if pipeline capacity remains constrained, says the National Energy Board of Canada.
Husky Energy Inc., Calgary, has revised its capital spending plans for 2016 to $2.1-2.3 billion from $2.9-3.1 billion, primarily reflecting a deferral of discretionary activities in western Canada.
CNOOC Ltd.’s Canadian unit said investigations continue into the cause of an explosion at the 50,000-b/d Long Lake oil sands project in Fort McMurray, Alta. The oil processing plant remains closed indefinitely after the Jan. 15 blast killed one worker and injured another.
Shell Canada announces appointments
January 6th, 2016 by Latest News
Michael Crothers has been appointed president and country chair for Shell Canada Ltd. and Zoe Yujnovich has been named executive vice-president, heavy oil.
IHS examines oil sands costs, competitiveness
January 4th, 2016 by Latest News
Canadian oil sands costs had moderated following years of cost escalations, but an IHS report said realities associated with the 2014-15 oil price collapse could see shift in oil sands’ relative competitiveness with other key sources of supply.