In the northern reaches of Alberta lies a vast reserve of oil that the United States views as a pillar of its future energy needs. China, with a growing appetite for oil that may one day surpass that of the United States, is ready to spend the dollars for a big piece of it.
Oil Sands Mining News
Royal Dutch Shell (NYSE: RDS.A) will receive C$876 million from both the Canadian federal government and also the Alberta provincial government for its Quest carbon capture and storage project at the company's Scotford Upgrader plant in the Alberta oil sands. Shell's Quest project would represent the first oil sands operation to sequester carbon from its upgrading facility. The funding will be dispersed over a 15 year period, with the majority, C$745 million, coming from Alberta's provincial government.
Are oilsands projects putting northern Alberta's future in peril? Or can we believe industry's assurances that all's right in our world? Political leaders and environmentalists across North America have had their say. But what can Albertans believe?
It's not often that the media gets a chance to make a headline out of "Kate and Wills" and "oilsands". The opportunity came on Friday, when the Royal couple, which is doing a cross-country tour of Canada, visited a greenhouse at the Calgary Zoo to learn about oilsands as part of their visit to the annual Calgary Stampede.
The price oil sands producers can charge fell to $96/barrel on Friday while global crude prices remained firmly around the $118/barrel level as Canadian supplies swamp the US. Canada exports two million barrels of crude to the US per day of which 1.5m come from oil sands meaning Alberta's bitumen mines are losing out on a possible $33m in revenues each and every day. Building new pipelines would remove the glut but it’s almost three years since TransCanada first applied to extend its Keystone pipeline and Enbridge’s project to pipe crude to the west coast for export to Asia will languish for another 18 months in a review process. All this while US need for crude continues to seep away and Chinese demand grows at double digit rates.
"We're a disaster area," Alexis Bonogofsky told me, "and it's going to take a long time to get over it." Bonogofsky and her partner, Mike Scott, are all over the news this week, telling the world about how Montana's Exxon Mobil pipeline spill has fouled
In Europe, the question of “human-free drilling” continues as a major topic of discussion. Text Size: A | A Tayvis Dunnahoe, Senior Editor Stay Connected Get daily industry updates in your inbox. Free. OilandGasInvestor Daily UGCenter Daily E&P
China's daily crude steel output hit a record high at the end of Jun amid a construction boom, Reuters reported. Daily output in China, the world's top steel-producing country, hit 2.018 million tonnes in the last 10 days of Jun, up 3.2% from the
July 8 (UPI) -- U.S. supermajor ConocoPhillips said it aims to get approval to start development of oil sands in the Canadian province of Alberta within 18 months. Shell Canada and other supermajors are petitioning the Canadian government for regulatory
Devon Canada is considering expanding its northern Alberta, Canada oil sands operations to include a new 140,000-barrel-per-day in situ project near its existing Jackfish leases.
Without better oilsands monitoring, Canada runs the risk of being put firmly in the category of a developing country with big industry but few environmental regulations, says an oil industry insider says an oil industry insider who co-chaired a provincial oilsands panel.
A strong Canadian dollar, a well-supplied North American market and a lack of access to international markets continues to dampen Canadian domestic oil and gas prices according to a quarterly price forecast released today by AJM Deloitte.
TORONTO - The Toronto stock market appeared set for a slightly higher open Thursday as oil prices got a boost from data showing that U.S. crude supplies fell more than expected for a second week, suggesting demand is improving. The Canadian dollar rose
* Bullish on oil, especially H2 2011 - Morgan Stanley * U.S. crude, product stocks fell last week - API * Coming up: EIA oil stocks data, 11 a.m. EDT Thursday NEW YORK, July 7 (Reuters) - U.S. crude futures fell on Thursday ahead of a government report
Major oilsands executives told a conference Wednesday that they don't see the latest upswing in activity leading to the same red-hot cost inflation they grappled with before the 2008 financial meltdown.
/FSC/ - Alberta Oilsands Inc. (AOS - TSX Venture), is scheduled to deliver a corporate presentation today July 6, 2011 at the TD Securities Unconventional Energy Conference in Calgary at the Sheraton Suites Eau
The Top 10 Metals & Minerals Industry projects in Canada are dominated by large-scale oil sands and metal mining projects. What was once considered a large project is being dwarfed by today's mega-projects. Projects exceeding $1 billion are no longer rare, but commonplace. Currently, there are 67 projects in Canada with a total investment value (TIV) of $1 billion or more.
Oilsands Quest assessed the results of the formal strategic alternatives process launched on August 17, 2010, which explored options to enhance shareholder value. After opening a data room and holding discussions with several entities in recent months, Oilsands Quest has achieved a clear understanding of asset development that potential partners or purchasers are seeking.
ProSep announced it was awarded $1.8 million in new contracts to supply a produced water treatment system for installation on a deepwater Gulf of Mexico facility and crude dehydration equipment for two oil sands facilities located in Alberta, Canada.
An ambitious pipeline project to link the oil sands of Alberta province to a future terminal on Canada's west coast holds out the promise of billions of dollars in revenue, and the prospect that the world's
Jennifer Grant, director of the Pembina Institute's oilsands program, made the following statement in response to the Alberta Environmental Monitoring Panel's report: "The environmental monitoring panel's recommendations are thorough. We urge the
A provincially-appointed expert panel is critical of environmental monitoring in the Canadian oilsands, according to a story today on CBC News: "Monitoring organizations suffer from inadequate funding, weak scientific direction and a general lack of resources to take on the enormous challenge of monitoring," the report states.
Beginning of Story Content Environmental monitoring in the Alberta oilsands is insufficient and needs to have "rigorous scientific design and execution" to be effective, a provincially-appointed expert panel concluded in a report released Tuesday.
A new report by Global Data on the top 2011 oil and gas investment destinations claims as much as 22% of the world's undiscovered and technically recoverable oil and gas could lie within Arctic territories. Oil and mineral wealth coupled with the opening of new shipping routes are transforming cities and towns in the region. Apart from the Arctic and Canada's oil sands where new projects could up current production of 1.7m bpd by another 2.7m bpd, new discoveries in Ghana, Uganda and other parts of Africa which remain largely unexplored are also attracting billions in investment from foreign oil and gas companies.
With an oil pipeline to the west coast, Canada's oilsands could be the big swing producer in the global energy market, says Ralph Glass, Director of Energy Valuation and Operations at AJM Deloitte, an oil and gas technical consulting firm.