Oil Sands Mining News

Anti-Trans Mountain pipeline funds flow from unexpected sources

Well-funded environmental groups opposed to Trans Mountain received NEB funding.

​Canadian oil outlook ‘significantly deteriorated’: International Energy Agency

With Canadian oil prices under pressure and so much uncertainty regarding new takeaway capacity, companies have been reluctant to launch new projects.

BHP injects $6m into emissions reduction company

Move is part of an increasing wave of investment by mining and energy groups into technologies that suck carbon dioxide directly from the atmosphere and use it to make synthetic fuel.

Enbridge pipeline delay punishes oil sands producers' shares

Cenovus Energy Inc., MEG Energy Corp. and Canadian Natural Resources the most affected.

Devon Energy pulling out of Canada

Devon expects to complete its pullout from Canada by the end of this year.

Canadian miners had a tough 2018, but optimism remains — EY

Ernst & Young’s Canadian Mining Eye index, which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior miners — dropped 2% in the last quarter of 2018.

Teck misses Q4 profit estimates on lower copper, zinc and oil prices

Canada’s largest diversified miner saw its quarterly profit drop 41.5 % from the year earlier, amid lower prices for copper, zinc and oil.

Is Bill C-69 Canada's oil sands killer?

Senator Doug Black, a former Conservative in the Upper Chamber who now sits as an independent, thinks so.

Teck Resources flags fourth-quarter profit coming below estimates

EBITDA will be down by about $148 million.

EY appoints new global mining and metals leader

Paul D. Mitchell has been named the new EY global sector leader for mining and metals.

Fort McMurray fighting temporary oil sands worker camps in effort to boost population

In past years, most oil sands projects were either cancelled or put on hold as majors including Royal Dutch Shell Plc and ConocoPhillips sold their operations to local producers.

Rethinking mining strategies among the top-10 global trends to shape 2019

Mining companies now need to determine how to operate in a market that is characterized by rising stakeholder demands, a widening talent gap, as well as dwindling access to key inputs such as energy and water, says Deloitte in its latest annual report.

Goldman says commodity investors fear future in age of Trump

Political uncertainty means there’s no time like the present when it comes to commodities trading, according to Goldman Sachs Group Inc.

China’s slowdown is miners' single biggest fear this year — report

Based on answers from 51 senior executives, lawyers White & Case say that trade tensions are the second largest challenge for the mining industry in 2019 and reveal what the underlying full-picture looks like.

Canada’s Suncor expects upstream output to jump by 13% in Q4

The country's largest oil and gas producer by market cap also said it will specify the exact impact of Alberta's mandatory output caps when it issues its 2019 capital and production guidance on Feb. 5.

Syncrude to pay $2.75M after blue heron deaths at Alberta oilsands mine

The company pleaded guilty and been fined more than $2.7 million in the deaths of 31 great blue herons at one of its oilsands mines north of Fort McMurray.

Pipelines to remain a focal point for Canada's Gov't this year

Trans Mountain expansion will be on many voters’ minds in federal and Alberta elections; trade wars promise to add uncertainty to export market.

Canadian M&A seen rising after hitting 12-year high in 2018

Merger-and-acquisition activity in Canada is expected to strengthen in 2019 as a slump in oil prices could fuel consolidation among energy companies and cannabis deals gain momentum.

Losing licence to operate new and biggest threat to miners — EY

Mining companies across the globe now consider the risk of losing their licence to operate as the biggest risk to their businesses in the next two years

The Saudi dilemma: To cut or not to cut

To cut and push up prices or not to cut and preserve market share.

Suncor Energy weighing impact of Alberta's mandatory oil production cuts for next year

Canada's largest oil and gas producer by market capitalization said the exact impact will be unveiled when it issues its 2019 capital and production.

Next year's challenge for Canada's oil patch comes from the sea

A new rule taking effect in 2020 aimed at reducing pollution by cutting the sulfur content of maritime fuel will make sulfur-heavy oil sands crude less desirable.

Indigenous rights 'invisible' as Ecuador pushes mining, oil projects: U.N.

Days before Tauli-Corpuz arrived in Ecuador, indigenous groups and about 2,000 protesters marched in the capital Quito and handed the national assembly a proposed law that would ban large metal-mining projects.

Nigeria awards mining exploration contract to 10 mining, consulting firms

Nigeria, Africa's top crude oil producer, is aiming to diversify its economy by developing other industries such as mining through various incentives.

Venezuela pays miner $425m in move to safeguard Citgo

If the required steps to fully implement the amended settlement do not take place Crystallex will go back to court to seize assets linked to Citgo.