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China’s CNOOC to acquire Canada-based Nexen for $15.1B; offshore oil and gas, oil sands, and shale gas

Green Car Congress

CNOOC Limited—China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world—is acquiring all of the Common Shares of Canada-based energy company Nexen Inc. It is the second-largest oil producer in the UK North Sea.

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S&P Global Commodity Insights raises 10-year production outlook for Canadian oil sands

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Higher crude prices and continued optimization improvements have driven the first upward revision to the S&P Global Commodity Insights 10-year oil sands production outlook in more than half a decade. Higher oil prices have driven record returns for the Canadian oil sands.

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IHS Markit: oil sands greenhouse gas intensity declined 20% over past decade

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New research by the IHS Markit Canadian Oil Sands Dialogue shows that the combined greenhouse gas (GHG) intensity of Canadian oil sands projects has declined 20% from 2009 levels. The latest data show that the greenhouse gas intensity of Canadian oil sands going down further, continuing a decade-long trend.

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Canada Minister of Natural Resources emphasizes key role of oil sands in the country’s energy future

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Speaking at the at the University of Toronto’s Hart House Alumni Dinner Series, Canada Minister of Natural Resources, Joe Oliver, emphasized the pivotal role that Canada’s oil sands will continue to play in the country’s energy future. —Minister Oliver.

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Canada backs demonstration-scale algal biorefinery project in the oil sands; Algal Carbon Conversion

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The Government of Canada is supporting a three-year project that will result in the construction of a $19-million, demonstration-scale facility in Alberta that will use algae to recycle industrial carbon dioxide emissions from an oil sands facility into commercial products such as biofuels. Click to enlarge.

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TOYO Engineering signs multi-year oil sands deal

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Japan-based TOYO Engineering Corporation, through its Canadian subsidiary TOYO Engineering Canada Ltd., TOYO has performed major projects in the global oil and gas industry for more than 50 years and, with the EPC scope of work for the JACOS Hangingstone Project, TOYO will be advancing its business in the Canadian oil and gas sector.

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Transcanada restarts Keystone oil sands pipeline operations

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TransCanada Corporation said that its 590,000 barrel-per-day (bpd) capacity Keystone Pipeline system resumed transporting oil sands crude on Sunday, 5 June, after a shutdown 29 May following an above-ground spill at a pump station in Kansas involving less than 10 barrels of oil. Click to enlarge. Earlier post.)

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