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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. billion cash. The price represents a premium of.
American Sands Energy Corp., an oilsands exploration and development company operating in the state of Utah, announced the successful operation of its oilsand recovery pilot facility. This is a key differentiator between us and more traditional oilsandcompanies.
Average values for WTW GHG emissions for oilsands and other crudes, tight boundary. When the oilsands products refined in the United States are considered—a mixture of oilsands and lower-carbon blending components—the GHG emissions are, on average, 9% higher than the average crude processed in the US.
Twelve of Canada’s oilsands producers have formed a new alliance, Canada’s OilSands Innovation Alliance (COSIA), focused on accelerating the pace of improving environmental performance in Canada’s oilsands through collaborative action and innovation. This would improve plant reliability.
A study by a team from the State Key Laboratory of Heavy Oil Processing, China University of Petroleum found that fluid thermal processing of. il sands is a feasible process for the production of an upgraded bitumen-derived liquid from Inner Mongolian oilsand. Oilsands exploration in Xing’an region.
American Commercial Lines (ACL) will begin transporting crude oil by barge on the US inland waterways for MEG Energy (US) Inc. MEG Energy), a subsidiary of the Canadian oilsandscompany MEG Energy Corp. The Company is the direct parent of Commercial Barge Line Company. American Commercial Lines Inc.
Tony Clement, Canada’s Minister of Industry, has approved the acquisition by PetroChina of the MacKay and Dover OilSands projects from Athabasca OilSands Corporation (AOSC) “ because I am satisfied that the investment is likely to be of net benefit to Canada. ”. Earlier post.).
increased its oilsands production 14% in 2013, from 89,736 barrels per day in 2013 to 102,500 bbls/day in 2013. The increase in production from the company’soilsands operations in 2013 was largely driven by its Christina Lake project. The company’s proved bitumen reserves increased 8% to more than 1.8
Imperial Oil Limited’s board of directors has approved the expansion phase of the Kearl OilSands Project, a surface mining operation under construction northeast of Fort McMurray, Alberta. Imperial Oil’s share of the Kearl OilSands asset is 71%. billion (US$10.6
Syncrude will provide half the funding for Barbour’s Chair in Hydrogeological Characterization of OilSands Mine Closure Landforms, investing more than $1.3-million Research is vitally important to an economically and socially sustainable oilsands industry. million over the five-year research project, with another $1.3-million
the developer of a process for harvesting algae and cleaning up oil & gas water, announced that its second original equipment manufacturer’s (OEM) agreement will target oil service companies in the Canadian oilsands market. LH was an early private investor in Athabasca Oil Corporation. OriginOil, Inc.,
Athabasca OilSands Corp. AOSC) announced that the Alberta Energy Resources Conservation Board and Alberta Environment and Water has issued full regulatory approval for the MacKay River commercial oilsands project to MacKay Operating Corp. The company was formed to operate the jointly owned MacKay River oilsands leases.
received approval from the Alberta Energy Regulator (AER) for its 100%-owned Grand Rapids thermal oilsands project. The proposed project is located approximately 300 kilometers (186 miles) north of Edmonton, within the company''s Greater Pelican Region in northern Alberta. is a Canadian integrated oilcompany.
is producing oil from phase D at its Christina Lake oilsands operation approximately three months ahead of schedule and within budget. The company began injecting steam in the second quarter of this year and began producing in late July. Cenovus has decades of growth ahead in the oilsands.
NineSigma, representing the General Electric Company, is inviting participation in a GE GHG Ecomagination Innovation Challenge to create value from excess low grade heat resulting from Steam Assisted Gravity Drainage (SAGD) oilsands production and/or related surface facility operations. Submissions are due 30 September 2014.
to proceed with its Narrows Lake oilsands project, with an ultimate gross production capacity of 130,000 barrels per day. The company plans to demonstrate solvent aided process (SAP) on 25% of the wells there and eventually phase in SAP across the entire Narrows Lake operation. Earlier post.). with the full addition of SAP.
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 oilsands facility into commercial products such as biofuels. Click to enlarge.
(JAPEX) plans to invest ¥65-70 billion (US$830–893 million) in its Canadian oilsands projects, Chief Executive Osamu Watanabe told Dow Jones Newswires. China’s biggest offshore oil and gas producer, said it will buy Canadian oil-sands developer OPTI Canada Inc. Oilsands production using SAGD.
The provincial government of Alberta and the federal government of Canada will invest C$865 million (US$822 million) in a large-scale Carbon Capture and Storage (CCS) project in the Athabasca oilsands. No funds will be dispersed until the companies enter into a funding agreement. The project will capture and store up to 1.2
GE and FilterBox x recently signed an agreement to develop integrated de-oiling and water treatment options for Alberta’s oilsands. Specifically, the two companies will work together on heavy oil produced water treatment projects using in-situ thermal methods such as steam-assisted gravity drainage (SAGD).
Athabasca OilSands Corp. has exercised its option to divest its 40% interest in the MacKay River oilsands project to Cretaceous Oilsands Holdings Limited, a wholly owned subsidiary of PetroChina International Investment Limited, for C$680 million (US$672 million) in cash. Earlier post.) Earlier post.). properties.
Alberta, Canada’s Climate Change and Emissions Management (CCEMC) Corporation is providing C$46 million (US$45 million) in funding to support six new carbon capture and storage and cleaner technology projects in the Canadian oilsands region. Imperial Oil: $10 million for a Cyclic Solvent Process pilot in Cold Lake.
and Shell Canada Energy have jointly filed a patent application for the recovery of bitumen from oilsands. The patent application was filed jointly under a Collaboration Agreement between SonoOil—a wholly-owned subsidiary of Sonic working with Shell to develop oilsand extraction process innovations—and Shell.
Athabasca OilSands Corp. Oilsands projects are very capital-intensive long-term investments and difficult to fully finance in the traditional equity market. As joint venture partners, AOSC and PetroChina International intend to use common in-situ methods to develop their oilsands projects. billion (US$1.7
GOS is exclusively focused on large-scale mining and processing of the world’s kerogen rich oil shale deposits to oil, with potential for add-on electricity production and associated minerals extraction. Lifecycle GHG for oil shale. Initial oil shale projects for the collaboration include GOS’ 2.18 Earlier post.).
Statoil has confirmed communication between the Aldous and Avaldsnes oil discoveries in the North Sea. In combination these discoveries may represent an oil structure of between 500 million and 1.2 billion barrels of recoverable oil equivalent. Norway has not seen a similar oil discovery since the mid-eighties.
The cost associated with replacing a barrel of produced oil has risen from $6 per barrel in 1998 to $27 per barrel in 2011, according to Lux Research—an increase of 350%. Unconventional oil will be a key area of focus for producers. will be in the oilsands. Cost to replace each barrel of oil produced.
The Board of Directors of Marathon Oil Corporation has approved moving forward with plans to spin off Marathon’s downstream business, creating two independent energy companies. Marathon Oil Corporation (MRO) will be a global upstream company based in Houston, Texas. Superior transparency and improved investor focus.
When it takes up to four million pounds of sand to frack a single well, it’s no wonder that demand is outpacing supply and frack sand producers are becoming the biggest behind-the-scenes beneficiaries of the American oil and gas boom. says the output of wells is up to 30% higher when they are blasted with more sand.
A University of Utah engineer has developed an inexpensive new method to remove oil sheen by repeatedly pressurizing and depressurizing ozone gas, creating microscopic bubbles that attack the oil so it can be removed by sand filters. Water from mining of oilsands and oil shale. —Professor Andy Hong.
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. GlobalData predicts Asia-Pacific to follow very closely with a capex of $253.1
Investment into emerging oil and gas E&P (exploration and production) technologies, which were nearly non-existent in 2003, at just $57 million, have attracted nearly $7 billion in private investment from 497 unique transactions, according to a new report from Lux Research, “ Investing in Next Generation Oil and Gas Technologies ”.
Oil and gas services company Schlumberger defines artificial lift as any system that adds energy to the fluid column in a wellbore with the objective of initiating and improving production from the well. The company has four targeted products: maglift , to economically produce deep low-rate gas wells. Source: Schlumberger.
Statoil has made the investment decision to develop the Mariner heavy oil field development in the UK North Sea. The field is estimated to produce for 30 years, with average production of around 55,000 barrels of oil per day over the plateau period from 2017 to 2020. who will cooperate with UK-based company SNC Lavalin Ltd.on
Anadarko Petroleum Corporation announced that its Shenandoah-2 well in the deepwater Gulf of Mexico encountered more than 1,000 net feet of oil pay in multiple high-quality Lower Tertiary-aged reservoirs. The well was drilled to test the down-dip extent of the accumulation, and the targeted sands were full to base with no oil-water contact.
In a pre-response to that speech, having successfully advocated for plug-in hybrids like the forthcoming Chevy Volt, we propose that the President follow that speech up with a “realistic and conservative” roadmap to halve our oil use in 10 years. Oil is holding us all hostage, economically and physically. Finally, it’s time to begin.
The US Department of Energy has selected UOP, a Honeywell company, for negotiation of a $25 million award to build a demonstration unit in Hawaii to convert cellulosic biomass into renewable hydrocarbon transportation fuels. RTP rapidly heats biomass at ambient pressure to generate high yields of pourable, liquid pyrolysis oil.
As low oil prices remain steady, many oilcompanies have been forced to write down the value of their reserves. It's something oil giant ExxonMobil has resisted, even as its revenues have dropped. But the company is now expected to reassess the value of 3.6
But with asphaltene-rich sources such as oilsands and heavy oils gaining importance, researchers are focusing more on a molecular-level understanding of the complex material, according to the cover story in the current issue of Chemical & Engineering News , ACS’ weekly newsmagazine. Source: London Centre for Nanotechnology.
Pending confirmation through future appraisal drilling, the total hydrocarbons initially in place in the Mad Dog field complex are now estimated to be up to four billion barrels of oil equivalent. interest, Chevron Corporation, through its subsidiary Union OilCompany of California, has a 15.6% BHP Billiton has a 23.9%
As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. In a speech made at the Association of International Petroleum Negotiators’ 2017 International Petroleum Summit, Johnston laid out his concerns for the future of oil. oil may not be able to fill.
The catalyst is a sand-like material made fluid by the hot vapor and liquid fed into the FCC. The slurry oil can be blended with residual fuel oil or further processed in the coker. This carbon, known as catalyst coke, adheres to the catalyst, reducing its ability to crack the oil.
The US Department of Energy’s (DOE) Office of Fossil Energy (FE) has selected 11 research projects that will help find ways to extract more energy from unconventional oil and gas resources while reducing environmental risks for awards totalling $12.4 The selections include $10.3 The selections include $10.3 million in federal funds.
Chevron Corporation announced a new oil discovery at the Moccasin prospect in the deepwater US Gulf of Mexico. 1 encountered more than 380 feet of net pay in the Lower Tertiary Wilcox Sands. Other Moccasin owners are BP, with 43.75% , and Samson Offshore Company, with 12.5%. The Keathley Canyon Block 736 Well No.
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