Oil Sands Mining News

Suncor Energy hikes stake in Syncrude in $730 million deal

Canada's largest energy producer also buys into Norwegian Sea oil project.

Oil prices ravaged by financial turmoil

Oil prices fell back suddenly over the last few trading sessions, dragged down by some forces beyond the oil market. 

Exposure to chemicals used in fracking may cause pre-cancerous lesions in mice

US researchers have found that female mice exposed to mixtures of chemicals used in unconventional oil and gas (UOG) operations during prenatal development had abnormal mammary glands in adulthood. Some even developed pre-cancerous mammary lesions.

Commodity boom has a dark side as cost creep erodes windfall

Mining and metal companies are rediscovering the downside of rallying prices: higher costs.

Suncor Energy implements first commercial fleet of autonomous haul trucks in the oil sands

Over the next six years, the company expects to deploy more than 150 autonomous haul trucks in the full program, which will be one of the largest investments in electric autonomous vehicles in the world.

CHART: Hedge funds have never been this bullish about the oil price

Large scale speculators in West Texas Intermediate and Brent crude oil futures have built up bullish positions equivalent to a staggering 1 billion barrels.

Canada’s Fort Hills oil sands project delivers first bitumen

Project is on track to reach 90% of capacity — or 194,000 barrels per day — by the end of the year.

TransCanada gets enough commercial support to go ahead with Keystone XL

Company said having route approval in Nebraska and the necessary commercial support for the pipeline brings it closer to a final investment decision.

OPEC-Russia oil deal renews threat from Canadian oil sands

A fresh surge in U.S. and Canadian oil production would wreck all of OPEC's hard work.

Canadian companies want to extract nickel, vanadium, cobalt from petcoke

They're running a study led by Paul Watkinson, who has investigated the conversion of carbonaceous solids into gaseous and liquid fuels.

Following detention, journalist publishes controversial story about Venezuela’s Mining Arc

Rampant violence and corruption are the norm in the mines of the southern Guayana region.

Tenova TAKRAF defines the new generation of extreme class crushers

Tenova TAKRAF has recently developed a symbiotic niche in the oil sands industry.

Oil tanker still on fire in the East China Sea

The Sanchi collided with a cargo ship about 260km off the coast of Shanghai.

U.S. expects domestic crude output to hit records in 2018, 2019

Oil production is seen as topping 11 million b/d in November 2019.

Osum Oil Sands to double capacity at Alberta site

The company's CEO said they are moving closer to their goal of producing 20,000 barrels per day at Orion.

Suncor, Teck buy part of Total stake in Canada oil sands mine

Suncor Energy and Teck Resources Ltd have taken higher stakes in Fort Hills oil sands mine from partner Total SA, resolving a dispute over building costs.

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.