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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 oilsandsproduction and will shift its focus to future potential offshore growth. 650 water depth.
Canadian oilsands & conventional production. Oilsands growth will drive Canadian crude oilproduction to about 4.7 This is about 401,000 b/d higher than previously forecast, due primarily to the higher conventional production and. The forecast sees oilsandsproduction rising from 1.5
is producing oil from phase D at its Christina Lake oilsands operation approximately three months ahead of schedule and within budget. Production at Christina Lake in August averaged more than 61,000 barrels per day (bbls/d) gross, an increase of nearly 4,000 bbls/d when compared to production in the second quarter.
(Japex) will proceed with an expansion of its oilsands project in the Hangingstone area in Alberta. Japan Canada OilSands Ltd. More specifically, the initial stage will result in bitumen production capacity of around 20,000 barrels per day. Total costs for the initial development are anticipated to be around C$1.4
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).
will twin the southern section of its Athabasca Pipeline from the Kirby Lake, Alberta terminal to the Hardisty, Alberta crude oil hub at an estimated cost of approximately C$1.2 The line is expected to be capable of accepting initial volumes by early 2015, with its full initial capacity available by 2016. Click to enlarge.
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%.
a Canadian integrated oil company, reported an increase in third quarter crude oilproduction year-on-year of about 4% due to oilsandsproduction that was 14% higher compared with the same period a year earlier. Conventional oilproduction slightly declined due to a combination of factors.
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. Click to enlarge. Canada-based Suncor Energy Inc., Canada-based Suncor Energy Inc.,
Canadian OilSands Trust, the largest stakeholder (36.74%) in the Syncrude oilsands project, announced plans to increase the synthetic crude oilproduction 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.
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. interest, Total holding 39.2%, and Teck Resources Ltd.
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. we will benefit from the experience of a leading partner, whose expertise in the mining operation of oilsands is well recognized.
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.
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.
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. Earlier post.)
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. Products next to each other in the pipeline can mix.
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. Product vapors are rapidly quenched, or cooled, and recovered as a light liquid product. Simplified RTP process flow.
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. by Art Berman for Oilprice.com.
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.
The stunning Ford GT—which received the EyesOn Design Award at NAIAS for best production vehicle—serves as a technology showcase for top EcoBoost engine performance, aerodynamics and lightweight carbon fiber construction. We are real focused on weight reduction. —Raj Nair. EcoBoost.
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.
s “ Rover Dome ,” its 45,000-square-foot (about 4,200-square-meter) production facility. production center , set to open in August. There, more than 60 employees and two production lines will have the capacity for 100 conversions a year. Bronco , revived in 2021: Its entire production sold out in advance for two years.
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. More information about the next Cruze diesel will be available closer to the start of production.
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. by James Stafford of Oilprice.com. This is a process known as “high-grading.”
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