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bp has agreed to sell its 50% interest in the Sunrise oilsands project in Alberta, Canada, to Calgary-based Cenovus Energy, the other owner of the Sunrise project. In Canada, bp will no longer have interests in oilsands production and will shift its focus to future potential offshore growth. 650 water depth.
Cenovus Energy Inc. is producing oil from phase D at its Christina Lake oilsands operation approximately three months ahead of schedule and within budget. Cenovus has decades of growth ahead in the oilsands. The manufacturing approach we use to develop our oilsands projects supports this long-term growth.
Alberta’s oilsands operations accounted for 28.8% of Canadian natural gas demand in 2016, up from 11.8% in 2005, according to a new report by Canada’s National Energy Board (NEB). From 2005 to 2016, natural gas purchased by oilsands projects more than tripled, from 0.73 Bcf/d in 2016.
The Alberta Energy Resources Conservation Board (ERCB) has approved an application by Total E&P Canada Ltd. to construct and operate a 300,000 barrel-per-day oilsands upgrader in the Alberta Industrial Heartland area of Strathcona County. In a 62-page decision report, the ERCB places seven conditions on the company.
Suncor Energy Inc. Total also acquired a portion of Suncor’s interest in the Fort Hills oilsands project resulting in Suncor now holding a 40.8% Suncor and Total have agreed to develop the Fort Hills mine and Voyageur upgrader in parallel, so that both come on stream in 2016. Earlier post.). holding 10%.
Suncor is targeting 1 million barrels per day output in 2020, with its growth in the oilsands underpinned by its alliance with Total. Canada-based Suncor Energy Inc., Approximately 80% of that production will be from the oilsands. Click to enlarge.
The Alberta Energy Resources Conservation Board (ERCB) has given approval to Cenovus Energy Inc. to proceed with its Narrows Lake oilsands project, with an ultimate gross production capacity of 130,000 barrels per day. SAP combines steam injection with solvents, such as butane, to help bring the oil to the surface.
Canadian OilSands Trust, the largest stakeholder (36.74%) in the Syncrude oilsands project, announced plans to increase the synthetic crude oil production capacity at Syncrude Mildred Lake upgrader to 425,000 barrels per day by 2020 from 350,000 now. Marcel Coutu, Canadian OilSands’ President and CEO.
Cenovus Energy Inc., a Canadian integrated oil company, reported an increase in third quarter crude oil production year-on-year of about 4% due to oilsands production that was 14% higher compared with the same period a year earlier. Conventional oil production slightly declined due to a combination of factors.
a Total subsidiary, has signed an agreement with UTS Energy Corporation (UTS) to acquire UTS Corporation with its main asset, a 20% interest in the Fort Hills oilsands mining project in Alberta, Canada. The Fort Hills project is operated by Canada’s Suncor Energy Inc. With Suncor Energy Inc., billion (US$1.09
Exxon Mobil Corporation plans to invest approximately $185 billion over the next five years to develop new supplies of energy to meet expected growth in demand, Chairman and CEO Rex W. Tillerson said that even with significant efficiency gains, ExxonMobil expects global energy demand to increase by 30% by 2040, compared to 2010 levels.
Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency, which warned that both trends could continue this year. Oil discoveries declined to 2.4
The 1,150-km (714-mile) Trans Mountain pipeline system (TMPL) is the only pipeline system in North America that transports both crude oil from the oilsands and refined products to the west coast. On 29 November 2016, the Government of Canada granted approval for the Trans Mountain Expansion Project. billion (US$3.46
Kinder Morgan Energy Partners, L.P. The 1,150-km (714-mile) Trans Mountain pipeline system (TMPL) is the only pipeline system in North America that transports both crude oil from the oilsands and refined products to the west coast. Only crude oil and condensates are shipped into the United States. Earlier post.).
The impact of rising oil prices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. Too many analysts continue to believe drilling and service has the same problem with rising oil prices. by David Yager for Oilprice.com.
The party is over for tight oil. Despite brash statements by US producers and misleading analysis by Raymond James, low oil prices are killing tight oil companies. Reports this week from IEA and EIA paint a bleak picture for oil prices as the world production surplus continues. OPEC and US crude oil production.
One casualty of the oil price downturn could be the megaproject. For years, as conventional oil reserves depleted and became increasingly hard to find, oil companies ventured into far-flung locales to find new sources of production. The collapse of oil prices, however, could kill off the megaproject.
After introducing and then removing several models, the company since 2013 has currently settled on the Fusion hybrid and plug-in hybrid (Energi); the C-MAX hybrid and plug-in hybrid; the Lincoln MKZ; and the Focus Electric. Mud and sand mode for muddy and sandy trails and terrain. of its total 2,493,918 vehicle sales.
Sustainable Development Technology Canada (SDTC) is awarding Nsolv $13 million in grant funding to commercialize its field-tested, proprietary warm solvent technology for in situ heavy oil extraction without the use of steam. The oil is sent to refineries for further processing. Coke-forming asphaltenes are sequestered.
Chevrolet introduced the all-new 2016 Cruze—larger, lighter, and more efficient than its predecessor. The new Cruze will be offered in more than 40 global markets and goes on sale first in North America in early 2016. Variable-flow oil pump enhances efficiency. A new, standard 1.4L Each engine features 74 mm (2.9-inch)
The collapse of oil prices has forced the US shale industry to slash production costs. In other words, about three-quarters of the cost reductions have come from trends that will not ultimately improve the overall recovery of oil. Even if production is to continue to rise, it will require steadily higher crude oil prices.
The permit authorizes TransCanada to construct, to connect, to operate, and to maintain pipeline facilities at the US-Canadian border in Phillips County, Montana for the importation of crude oil. Kerry noted at that time that the arguments pro and con had been “overstated”. Russ Girling, TransCanada’s president and CEO.
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