Oil Sands Mining News

An oil slick runs through it

In Montana, ranchers reel from the oil spill on the iconic Yellowstone River.

Cnooc to pay $2.1 billion for Canada oil sands firm

OPTI Canada, a bankrupt oil sands producer, has agreed to sell itself to a wholly-owned subsidiary of the China National Offshore Oil Corporation, in a deal worth $2.1 billion, the company said on Wednesday. Cnooc, as the Chinese oil giant is known, has been an active deal maker as it seeks to feed China’s ravenous demand for energy.

Connacher Oil and Gas initiates SAGD+ project at Great Divide

Connacher Oil and Gas Limited announced Monday that it has initiated the injection of solvent with steam on two of seven horizontal steam-assisted gravity drainage well pairs on one of three wellpads at the company's bbl/d Algar bitumen production operation at Great Divide in Alberta's oil sands. This pilot project is designed to measure the increase in bitumen production due to the downhole reduction of bitumen viscosity, through the interaction of the solvent and bitumen at the steam oil interface and the amount of solvent recovered after it is injected.

Closer scrutiny of Alberta oil sands pollution in the offing

Alberta should establish an independent agency to monitor the environmental impact and pollution from oil sands development, an independent panel told the provincial government in a report released Tuesday. The Alberta Environmental Monitoring Panel was formed in January under pressure from environment groups when questions emerged over the quality and comprehensiveness of environmental reporting on the oil sands. Canada's oil sands also come under fire recently when it was revealed that the federal government deliberately excluded data indicating a 20% increase in pollution in a climate change report to the UN.

Oilsands Quest falls again after $60 million rights are offered at deep discount

Oilsands Quest stock was trading down around 15% in early afternoon trade on Tuesday after the company announced it was hoping to raise $60 million in a rights offer to advance its flagship Axe Lake oil sands project in Saskatchewan. The company is offering existing shareholders 300 million rights at a 40% discount to the share price last Friday, a day on which Oilsands Quest rocketed more 61% on 10-times usual volumes after Saskatchewan converted its Axe Lake permits to 15-year leases. The company has been forced to raise money and go it alone after a fruitless 11-month quest to find a strategic partner.

Opec sees slower growth in demand

World oil demand is likely to grow more slowly in 2012 because of a fragile global economy and deepening decline in consumption in Europe, the Organization of the Petroleum Exporting Countries (Opec) said in its first forecast for next year.� Oil

Japan the new darling of Energy speculators

Read more : crude oil,natural gas,crude oil price,japan oil,libya oil Speculators now look to Japan for trends in global energy prices as the country has become a huge impact in international crude and gas prices. Japan has been boosting its consumption

Shell Bets Big On GTL With Its Pearl Project in Qatar

As production begins at Shell’s Pearl project, Qatar looks set to soon become the “GTL capital of the world”

What the frack? Analysts cool towards BHP's shale gas purchase

BHP Billiton's friendly $12 billion takeover of the US gas company Petrohawk is the group's largest in six years, and its most ambitious foray into the controversial business of shale gas extraction through a process called hydraulic fracturing or fracking. While the transaction is a coup for Petrohawk – its shares duly rose 65% to match the takeover price – analysts are skeptical about the prospects of BHP Billiton, the world's most valuable miner, making a success of the deal considering its poor track record with acquisitions, its relatively limited experience in the fracking business, environmental concerns and warnings that it is again buying at the top of the cycle.

Oilsands Quest rockets after Saskatchewan approves first oil sands leases

Oilsands Quest stock was trading up more than 60% at the close on Friday on more than 10-times usual volumes after the company announced it has received approval from the Government of Saskatchewan to convert portions of permits for its flagship project at Axe Lake to 15-year leases, the first oil sands leases in Saskatchewan. The stock was clobbered earlier this week after the company said it will ask for more cash from investors because its almost one-year long global quest to find a heavyweight partner had come up empty handed.

China gets picky

It turns out that China is not willing to pay whatever it has to for energy and metal resources.Several resource deals have faltered in recent months, indicating an increasingly choosy Chinese perspective on energy and metal acquisitions. Add to that the growing concern that the global economy is once again stumbling and that commodity prices may be near a top, and you have a Chinese deal-making market that has gone from 60 to zero in no time.

BHP Billiton buys Petrohawk for $12.1 billion

BHP Billiton Ltd. says it will buy U.S.-based oil company Petrohawk Energy for $12.1 billion in cash, giving it greater access to U.S. shale gas assets. The world's largest miner said Friday it would pay $38.75 for each Petrohawk share in an all-cash tender offer. The total value of the deal is $15.1 billion, including Petrohawk's debt.

Commodity falls and fears for stress tests see FTSE decline

Falls among commodity issues sapped the strength of Britain’s top share index yesterday, as worries over global growth clouded the demand outlook for metals and oils. At the close, the FTSE 100 index was down 59.48 points.

White House supported oil sands pipeline in 2009, WikiLeaks cable shows

At a town hall meeting in Pennsylvania in early April, President Barack Obama was asked about a bitter fight between industry and environmentalists over a proposed $7 billion, 2,000-mile pipeline to ship crude from Alberta's oil sands to Gulf Coast refineries.

BRIEF-Nexen CEO welcomes Opti's recapitalization

Nexen Inc: * CEO says company welcomes long lake partner opti's recapitalization * CEO says Opti bondholders have good understanding of oil sands project * CEO says Opti restructuring adds assurance company can fund share of project

University of Kentucky-led research could be path to new energy sources

A team of researchers led by University of Kentucky College of Agriculture Professor Joe Chappell is making a connection from prehistoric times to the present that could result in being able to genetically create a replacement for oil and coal shale

IEA's Demand Growth Outlook Conflicts with OPEC's

Crude oil prices moved with no direction with WTI and Brent contracts being capped below 100 and 120 respectively. The IEA and the OPEC delivered their 2012 oil demand forecasts for the first time while the EIA reduced its estimated for both 2011 and

NYMEX-U.S. crude edges up on weak dollar

* Dollar weakness supportive to oil prices * Brent August crude contract expires on Thursday * Coming up: EIA natural gas data, 10:30 a.m. EDT Thursday NEW YORK, July 14 (Reuters) - U.S. crude futures edged up on Thursday as the dollar's weakness

North West Redwater Partnership awards contract to Jacobs

Jacobs Engineering Group, a diverse provider of professional, technical, and construction services, has received an engineering, construction and procurement services contract from the North West Redwater Partnership for a new oil refinery to be developed in Alberta, Canada.

Obama: 'questions' about 'destructive' oil sands; Senator wants trade inquiry

President Obama was asked about oil sands at an energy town hall today in Pennsylvania. He said it was a “good thing” to get oil from friendly and stable countries such as Canada, but said he would not pre-judge the State Department permit process for the proposed Keystone XL pipeline from Alberta to the Gulf Coast.

Signs point to U.S. approval of oil sands pipeline

At a town hall meeting in Pennsylvania in early April, President Barack Obama was asked about a bitter fight between industry and environmentalists over a proposed $7 billion, 2,000-mile pipeline to ship crude from Alberta's oil sands to Gulf Coast refineries. Because the pipeline crosses the U.S.-Canadian border, a decision on a permit is pending

Private funding for energy ministers meeting a ‘corrupting influence’

Alberta government, which is hosting the conference. Starting Saturday, politicians will visit the Calgary Stampede, tour Alberta’s oilsands and spend time in Kananaskis discussing a proposed national energy framework, among other policy issues. The

Hacker group targets RBS over oil deals

Royal Bank of Scotland, the taxpayer-owned banking giant, has been threatened with cyber-attacks by the hacker collective Anonymous, for lending financial support to oil projects in Canada.

Opti Canada files for creditor protection

Reuters) - Opti Canada Inc , whose major asset is a stake in Nexen Inc's troubled Long Lake oil sands project in northern Alberta, filed for court protection from creditors on Wednesday as it agreed on a equity-for-debt swap with bondholders. Opti said

Protesters demand Schweitzer end support for pipeline, megaloads

More than 100 environmental activists from across the country descended on the Montana Capitol on Tuesday to demand Gov. Brian Schweitzer rescind his support for the Keystone XL oil pipeline and ExxonMobil's megaload transportation project.