Oil Sands Mining News

Shell sells stake in Canadian Natural Resources for $3.3 billion

Once the deal closes, Shell's only involvement in Canada's oil sands will be through its 10% stake in the Athabasca Oil Sands Project, majority owned by CNR and Chevron.

Qatar steps in to buy Rosneft stake after China deal collapses

Qatar Investment Authority stepped in after the sellers -- a consortium of QIA itself and mining giant Glencore Plc -- told CEFC it wouldn’t proceed with the original deal announced in October.

Qatar Petroleum says will list 49 pct of its shares in aluminium plant

The state energy giant will list 49 percent of its shares in the country's aluminium smelter plant Qatalum in a public offering.

Fort Hills oilsands ramp up surges over 100,000 bbls/d

The most recent data available from the Alberta Energy Regulator — for December 2017 — shows Fort Hills at 11,525 bbls/d.

Oil hedge fund manager Andurand says $300 'not impossible'

Pierre Andurand said the current reluctance of energy companies to invest in new production meant $300 a barrel was "not impossible" within a few years.

Oil sands get taste of slower growth ahead as logjams hit output

While Cenovus and Husky both billed their output slowdowns as temporary, the first-quarter hiccups foreshadow shrinking gains in oil-sands production.

Cenovus says railways are ready to ease oil transportation bottlenecks

Oil and gas producer Cenovus Energy Inc expects Canada’s railways to be able to carry more oil in the second half of this year.

Commodities: the top asset class of 2018 so far

If the commodity sector keeps the pace for the rest of 2018, this will be the best year for the asset class since 2003.

Which has the bigger economy: Texas or Russia?

Even though Russia has nearly five times as many residents as Texas, the Lone Star State's economy is more than $40 billion larger.

IMF resumes lending to Chad following Glencore debt deal

The Central African oil producer reached an agreement in principle to restructure its more than $1 billion debt to Glencore and four banks.

Mining billionaire backs outback gas pipeline to ease power woes

The project, being considered by the federal government, may cost as much as A$5 billion ($3.9 billion), according to one industry estimate.

Major banks earned more in metals than oil last year

The world’s 50 biggest investment banks made revenue of $1.6 billion from trading, selling derivatives and other activities in metals last year.

Glencore is losing billionaire allies to Trump's sanctions

In just four months, Glencore Plc chief Ivan Glasenberg has lost two of his closest business allies, billionaires Oleg Deripaska and Dan Gertler.

Coal dead? Peak oil demand? Five takes on fossil fuels' future

Mining mogul Bob Murray offered a passionate defense of coal, asserting that we’d all “die in the dark” without it.

Siemens to supply industrial gas turbines for co-generation project in Alberta, Canada

Two SGT-800 gas turbine generators and 25 year service agreement || Commercial operation expected in late 2021

Teck ups stake in Chile Quebrada Blanca copper mine in $162.5m deal

Company now owns 90% of Compañía Minera Teck Quebrada Blanca, which main asset is the namesake copper project in Northern Chile.

One of world's dirtiest oil sources wants to go green

Alberta is boosting its use of renewable energy, closing power plants that burn coal and in January increased its tax on carbon emissions by 50 percent.

Stantec to boost oilsands mining operations and reclamation exposure with acquisition of Norwest

Norwest will be integrated into Stantec’s energy and resources business, the company said.

Suncor output to suffer from early start of Syncrude maintenance

Eight-week maintenance project at Syncrude that had been scheduled to start in April will start Thursday.

Oil sands upgraders may make a comeback amid pipeline crisis with $1-billion Alberta pledge

Partial updgrading would free up pipeline space and produce a grade of oil that's easier to refine and more valuable than the heavy grades produced currently.

Teck restarts Elkview dryer, to lose 200,000 tonnes of coal production

Company expects to lose about 200,000 tonnes in steelmaking coal output.

Suncor Energy files application for 160,000-bpd Lewis oilsands project

Canada’s largest integrated energy company has filed an application for a massive new oil sands project defying expectations of slowing growth in the oil sands.

Vancouver company obtains positive results in process of extracting metals from petcoke

MGX Minerals will proceed with its previously announced partnership with Highbury Energy.

Canada the world's overall top mining destination, despite Saskatchewan fall

That's considering the combined rankings of all its provinces and territories, but Finland is the most attractive jurisdiction this year.

Miners rich in cash are aiming for fat dividends, debt payments

The mining industry is awash with cash, and so far it’s got two main uses — pay down debt and reward investors.