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Shell Canada and Caterpillar have signed an agreement to test a new dual fuel engine and fuel mix using liquefied natural gas (LNG) that could reduce operating costs and lead to reduced emissions from oilsands mining in northern Alberta.
Alberta’s oilsands operations accounted for 28.8% of Canadian natural gas demand in 2016, up from 11.8% From 2005 to 2016, natural gas purchased by oilsands projects more than tripled, from 0.73 Bcf/d in 2016. in 2005, according to a new report by Canada’s National Energy Board (NEB).
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. Cenovus also anticipates that SAP may increase total oil recovery by as much as 15%. Earlier post.).
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. Cenovus Energy Inc.,
Suncor is targeting 1 million barrels per day output in 2020, with its growth in the oilsands underpinned by its alliance with Total. Approximately 80% of that production will be from the oilsands. The agreement with Total is an important element of Suncor’s plans to more than double our oilsands production.
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.
Increased activity in the Exploration and Production (E&P) sector will be the primary driver in pushing oil and gas capital expenditure (capex) to $1.039 trillion for 2012, according to the latest report by business intelligence firm GlobalData. In terms of capital expenditure for the 2012–2016 period, Petroleo Brasileiro S.A.
Demand for electricity will make natural gas the fastest growing major energy source and oil and natural gas are expected to meet 60% of energy needs over the next three decades. To help meet that demand, ExxonMobil is anticipating an investment profile of approximately $37 billion per year through the year 2016.
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
for the production of renewable fuel oil (RFO) from forest residues. million gallons US) of renewable fuel oil per year. Production of renewable fuel oil is set to begin in 2017. The RTP pyrolysis process is based on the application of a hot “transported” bed (typically sand) that is circulating between two key vessels.
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.
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.
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