Fort McMurray Mining News

Cenovus CEO to retire as company sells up to $5bn in non-core assets

News come as the Calgary-based firm is trying to win over investors upset by its $17.7-billion acquisition of oil sands and natural gas assets from ConocoPhillips Co.

Oil sands projects growth to drive need for more pipelines — CAPP

Canada will need more pipelines built through to 2030 to transport an additional 1.3 million barrels per day of oil sands production to markets across North America and around the world, according to the Canadian Association of Petroleum Producers.

Shell speeds up exit from oil sands, selling stake in Canadian Natural Resources

Transaction could become one of the country’s one of the biggest-ever equity sales.

Suncor plans to build new oil sands project in Canada

The Lewis project would be located about 25 km northeast of Fort McMurray and could eventually produce up to 160,000 barrels a day.

Production at Syncrude’s Mildred Lake oil sands to fully resume in June

Pipeline shipments would restart at approximately 50% of capacity in early May.

Production at Syncrude’s Mildred Lake oil sands to fully resume in April

Suncor Energy, the largest partner in Syncrude, said it expects to meet its 2017 production targets despite a fire that shut down the Mildred Lake upgrader almost two weeks ago.

Shell sells Canadian oil sands businesses in deals worth $8.5 billion

Once the deals close, there will be only three major companies — CNRL, Suncor and ExxonMobil majority-owned Imperial Oil Ltd. — dominating Canada's oil sands industry.

Canadian oil sands producers could fetch up to $15 more per barrel with this technology

The adoption of a“partial upgrading” technology could bring in hundreds of millions of dollars into Alberta's economy, a new study claims.

Cenovus resuming Christina Lake oil sands expansion, boosts capex

Construction of the 50,000-barrel-a-day expansion will begin in the first half of 2017, the company said.

Suncor Energy sees higher output, lower spending in 2017

Canada’s largest oil and gas company expects production to rise by more than 13% next year and spending to fall by more than $1 billion.

Japex postpones oil sands expansion project to mid-2017

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

Canada’s Alberta wants to cap oil sands emissions

If passed and enacted, the ruling will forbid oil sands producers from collectively emitting more than 100 megatonnes of greenhouse gases a year.

Six months after wildfires, Canada’s oil sands now hit by DiCaprio’s new film

Director Fisher Stevens recently said he was "really horrified" by how the landscape looked in north-eastern Alberta.

Canada’s oil industry to lose $10 billion this year

The Conference Board of Canada also expects the oil industry’s losing streak to last three years, from the last quarter of 2014 through to the second quarter of 2017.

Canada OK’s three new oil sands projects

The proposed operations, worth about $3 billion in potential investments, could add up to 95,000 barrels of oil per day to current output.

Oil sands stoppages push Canadian GDP down to 2009 recession levels

The country’s economy shrank 1.6% in the April-to-June period, the largest quarterly decline in seven years.

Fort McMurray wildfires eat into Imperial Oil earnings

Imperial, Canada’s No.2 integrated oil producer and refiner, posted a surprise $181-million loss in its second quarter.

Canada oil sands output to grow 1 million barrels daily by 2025

The 42%-growth to 3.4 million barrels per day by 2025 will come from the expansion of existing facilities rather than new projects, IHS says.

Cenovus bumps up caribou protection project with $32M investment

The company aims to replant forests along old access roads and seismic lines in an area covering 3,900 square kilometres — more than 10 times what it accomplished through its early-stage work.

Cenovus shuts down oil site due to risks posed by Canada’s wildfire

About 118 staff members have been moved to nearby Wabasca by bus and helicopter as a precaution.

Wildfire hitting Canada’s oil sands heart gets closer to major plants

Situation has forced some companies to abandon plans laid last week to restart production.

Canadian oil sands camps evacuated as wildfire shifts north

Forest fires in Northern Alberta have forced additional evacuations at several major operations.

Heart of Canada’s oil sands industry saved from fire's worst

Companies and authorities now discussing plans to resume production.

Canadian crude prices surge as fire hits Shell, Suncor output

The worst wildfire in Alberta history is boosting Canadian crude prices as oil companies evacuate workers and shut in as much as 1 million barrels a day of output.

Canada’s oil sands cuts production as wildfire forces mass evacuation

The fire is the latest blow to a community already hit by slumping oil prices that have forced producers to halt projects and lay off hundreds.