Oil Sands Mining News

Oil tops $60 at close of year

Oil prices are set to close out the year up more than 11 percent, hitting their highest level since 2015. However, the road to higher prices was rocky.

On hold since 2015, oil sands project to pump at 10,000 bopd

New life was breathed into the Canadian oil sands with a decision by foreign-owned Harvest Operations Corp to commission its BlackGold project south of Fort McMurray.

Venezuela backs its new cryptocurrency with 5 billion barrels of crude

Venezuelan President Maduro shocked the market in early December when he followed China's 'petro-yuan' futures announcement by making headlines of himself proclaiming a new national cryptocurrency - the 'Petro' - to overcome The West's "financial blockade."

Oil-rich Venezuela is out of gas

"In Venezuela, we are out of gas. In Venezuela, there is no gas oil. In Venezuela, there are no lube oils."

World Bank to stop funding oil and gas projects

The institution will stop all lending for oil and gas projects after 2019, with some exceptions.

World’s third-largest insurer to divest from oil sands and pipelines

AXA and three other French investment groups follow the World Bank's lead.

Canada’s Desjardins not scratching pipeline loans after all

Lender is moving to a carbon-neutral state by offsetting its own greenhouse gas emissions through the purchase of carbon credits starting this year.

Suncor Energy begins regulatory process to add significant low-carbon power with cogeneration at its Oil Sands operations

To remain globally cost and carbon competitive, Suncor took first steps to replace coke-fired boilers with two cogeneration units at Oil Sands Base Plant.

Hebron project off Newfoundland coast kicks off oil production

It's expected to help Atlantic Canada offshore production rise 44% to 307,000 bpd by 2024.

Enbridge, Michigan reach deal to boost pipelines safety, protect the Great Lakes

Agreement aims at boosting the safety of twin pipelines beneath the waterway where Lakes Huron and Michigan converge.

Fort McKay and Mikisew Cree First Nations complete purchase of 49% interest in Suncor's East Tank Farm Development

Deal represents the largest business investment to date by a First Nation entity in Canada.

Nebraska OK's Keystone XL Pipeline, but more obstacles in the horizon

State has approved controversial project but insisted on alternative route, could add further complications.

South Dakota pipeline spill hits TransCanada shares, Canada crude price

Canadian heavy crude prices and TransCanada Corp shares slid on Friday, the day after the Keystone pipeline spilled 5,000 barrels of oil in South Dakota as officials in Nebraska mulled whether to approve another pipeline proposed by the company.

Suncor’s $5 billion 2018 budget focuses on maintenance, not growth

Suncor Energy Inc. says it will spend between $4.5 billion and $5 billion in 2018 to deliver average upstream production of about 760,000 barrels of oil equivalent per day.

Suncor Energy's Steve Williams appoints Mark Little as chief operating officer

Steve Williams, chief executive officer at Suncor, today announced the appointment of Mark Little, currently president, Upstream, as chief operating officer (COO).

Venezuela’s Mining Arch in the spotlight again

New reports highlighting the environmental dangers posed by mineral exploitation at the Mining Arch have emerged, as Venezuelan officials try to convince Alrosa to invest in the project.

Suncor Energy and PetroNor announce agreement for equity partnership

Suncor and PetroNor today announced the purchase by Suncor of a 41% equity interest in PetroNor, a petroleum products distributor across the James Bay and Abitibi-Témiscamingue regions of Quebec.

Canadian junior miners worth jumps for second year in a row

Aggregate market cap of the top 100 junior mining companies was up 7% to $12.2 billion, a level not seen since 2010, but the group significantly underperformed the Venture Exchange as a whole.

Oil sands buyout spree paying off as takeovers boost output

The acquisition spree that returned much of Alberta’s oil sands to Canadian hands is so far working out as the buyers projected, with results at Canadian Natural Resources Ltd. and Cenovus Energy Inc. beating expectations on the back of higher output and lower costs.

Cenovus posts smaller loss as production more than doubles

Company lost $69 million in its latest quarter as it more than doubled its production compared with a year ago.

TransCanada veteran Alex Pourbaix to lead Cenovus

Pourbaix replaces Brian Ferguson, who announced his retirement earlier this year following Cenovus’ $17.7 billion acquisition of oil sands and natural gas assets from ConocoPhillips.

Cenovus sells Palliser oilfield for $1.3 billion

Cenovus Energy (TSX, NYSE:CVE) last week unloaded another key asset.

New tool helps industry collect and share geoscience data

PDAC gearing up to launch Exploration Assessment Digital Data Formats guidelines, a practice expected to improve Canadian mine exploration discovery rates.

Canada's oil sands survive, but can't thrive in a $50 oil world

Canada’s oil sands producers are stuck in a rut.

Environmental group’s office raided to collect for Enbridge

After sending court bailiffs to seize property from Stand.earth, Enbridge backed off, saying it will not seize property after all.