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Shell completes divestment of oil sand interests in Canada; retains Scotford refinery and plants

Green Car Congress

Royal Dutch Shell plc announced the completion of two previously announced agreements by Shell Canada Energy, Shell Canada Limited and Shell Canada Resources (Shell) that will see Shell sell all its in-situ and undeveloped oil sands interests in Canada and reduce its share in the Athabasca Oil Sands Project (AOSP) from 60% to 10%.

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Canada oil sands producers form alliance to improve environmental performance

Green Car Congress

Twelve of Canada’s oil sands producers have formed a new alliance, Canada’s Oil Sands Innovation Alliance (COSIA), focused on accelerating the pace of improving environmental performance in Canada’s oil sands through collaborative action and innovation. The released water is recovered and recycled.

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TransCanada and Phoenix Energy forming JV to develop $3B oil sands pipeline in Alberta

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TransCanada Corporation has entered into binding agreements with Phoenix Energy Holdings Limited (Phoenix) to develop the Grand Rapids Pipeline project in Northern Alberta. The system will have the capacity to move up to 900,000 barrels per day of crude oil and 330,000 barrels per day of diluent.

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Algae harvesting company OriginOil’s second CLEAN-FRAC licensing agreement targets Canadian oil sands market; urban algae demo project in Paris

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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 oil sands market. LH was an early private investor in Athabasca Oil Corporation.

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Alberta CCEMC providing $46M for carbon capture and storage and cleaner energy projects in oil sands region

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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 oil sands region. Imperial Oil: $10 million for a Cyclic Solvent Process pilot in Cold Lake.

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Imperial Oil To Move Ahead With Kearl Oil Sands Project

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Imperial Oil Limited’s board of directors approved the first phase of the Kearl oil sands project, a surface mining operation northeast of Fort McMurray, Alberta. Imperial is an affiliate of Exxon Mobil Corporation, which owns 69.6% of the outstanding shares.

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Annual global oil & gas capital expenditure to pass $1-trillion mark in 2012

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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

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