CNOOC Mining News

Japex postpones oil sands expansion project to mid-2017

Move will push up costs by Cdn$250 million ($187M).

Canadian regulator lets Nexen reopen 40 utility pipelines at Long Lake

The remaining 55 pipelines affected by a suspension order must stay closed until the company can demonstrate they're safe.

Canadian Oil Sands project to operate at ‘minimal’ rates until end of the month

The largest synthetic crude oil processing facility in Canada is slowly recovering from a fire that damaged equipment and communication lines over the weekend.

More headline risk around Alberta’s oil sands industry

Questions multiply on future of Canadian projects.

Nexen’s oil sands pipeline leak one of Canada’s largest ever

A day after reporting a significant jump in the number of pipeline failures, the Alberta Energy Regulator is now investigating one of the biggest ruptures in the province in years.

Canada defends oil sands foreign investment limits

Natural Resources Minister Joe Oliver says oil sands investment not declining on foreign deal limits.

China secures major second stake in Canadian oil sands with a Cd$2.1 billion deal

Chinese energy giant China National Offshore Oil Corp (CNOOC) took over oil sands operator Opti Canada Inc. (TSXV:OPC) today in a deal valued at Cd$2.1 billion. This acquisition gives China's top offshore oil company its second stake in a Canadian oil sands property. With the close, reports Reuters, CNOOC gains a 35 percent stake in the troubled Long Lake oil sands project, which operates well below its 72,000 barrels per day capacity as operator Nexen Inc (NXY.TO) works to overcome problems with the C$6.1 billion project's reservoir.