Shell, as operator of the Athabasca Oil Sands Project announced on Monday that in just six years the project has spent over $1 billion working with over 70 Aboriginal contractors. Shell Canada Energy is 60% owner and operator of the Athabasca Oil Sands Project along with Chevron Canada (20%) and Marathon Oil Corporation (20%). The AOSP includes the Muskeg River Mine, Jackpine Mine and Scotford Upgrader.
Oil Sands Mining News
The Financial Post reports according to a new outlook from the Construction Owners Association of Alberta, the expected future labour need for 2011 is up significantly from this time last year. At the same time, the Construction Sector Council recently published a forecast that suggests that future trades industry labour supply will be limited. An 2011 report by Peters & Co., an oil sands investment house, predicted investment in Alberta's oil sands was set to reach a staggering $180bn over the next decade – 20% more than was spent during the height of the last boom.
Seair announced on Monday it has sold a SA1200 diffusion tower to a major oil sands producer and Canadian Oil Sands Network for Research and Development (CONRAD) member, bringing the number of dewatering treatment units purchased by the producer to seventeen (17). The SA1200 is the largest diffusion tower Seair has produced to date with a flow-through capacity of over 19 m3 (5,000 gallons) per minute.
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Natural gas is a gas that consists primarily of methane and is widely used as an energy source around the world. The natural resource is important for the creation of fertilizers, and is now used […]
The oil markets are in decline today on the heels of a Saudi decision to provide additional crude volume. The move comes as divisions within OPEC intensify (for reasons we discussed in "What Iran's Oil […]
This week’s activity has been far from one sided as markets are fluctuating in both directions with no clear direction. Weakness in equities, a rising dollar, a slowdown in China or a production increase in […]
Ivanhoe Energy Inc. confirmed the closing of its previously announced bought deal public offering of Can$50,000,000 principal amount of 5.75% convertible unsecured subordinated debentures at a price of Can$1,000 per Debenture. Ivanhoe Energy is an […]
Canada’s biggest energy firm and the largest oil sands outfit Suncor Energy Inc. (SU - Analyst Report) has been a Zacks #1 Rank (Strong Buy) stock since May 17, 2011. The independent energy exploration and production company has seen its estimates move up following its robust first quarter results in early May. Suncor’s attractive fundamentals, positive outlook, and the recent optimism about economic recovery have inspired this bullishness.
Media are invited to Shell Canada's kickoff to Aboriginal Awareness Week (June 13-17) where Lorraine Mitchelmore, Shell Canada President and Country Chair and the Honourable Len Webber, Minister of Aboriginal Relations, will be making an announcement.
The oil sands, the world’s largest energy project, will face severe or even catastrophic water shortages due to declining glaciers and snowpack in the Rocky Mountains, warn Canadian water researchers.
Ron Leven of Morgan Stanley has recently delivered a presentation under the auspice of ETF Securities Ltd. in which he outlined his expectations for the major currencies.
China showed robust demand for crude oil and coal in May, shrugging off higher prices to boost imports by more than 20 percent, but its appetite for overseas copper supplies remained sickly and iron ore buying showed signs of ending a strong run.
Bloomberg reports that in New York, Oil traded near the highest this month. The market news is quoted as saying: Futures were little changed, with the biggest weekly gain in four weeks, after the U.S. Commerce Department said record exports in April helped the trade gap shrink 6.7 percent to $43.7 billion, the lowest since December. A separate report showed jobless claims unexpectedly rose.
MetaPower International receives purchase orders totaling $1,777,320 for management services with a major oil sands energy company
MetaPower International, Inc. (OTCPK: MTPR) is pleased to announce that the Company's subsidiary, MetaPower Canada, Ltd, has received additional purchase orders totaling $1,777,320 CD from a Canadian Energy Company's facility in the Oil Sands Region of Northern Alberta, Canada. The orders are for 1) Continued work on development, calculation and reporting of key performance indicators, 2) On-going work on the Process Safety Management project, 3) Work on the Business Process Management initiative.
Short seller Jim Chanos is well known for his negative assessments of China, especially Chinese real estate. One of his more colorful expressions about China's economy is "the Chinese are on a treadmill to Hell." […]
Alberta's land use plan for the lower Athabasca River region favours oilsands development over conservation, say First Nations leaders.
Legal threats and scientific doubts are undermining the hoped-for peace that a provincial land-use proposal would have brought to Alberta’s oilsands region.
No action by OPEC today reverses Crude and from here we should see higher pricing. July futures settled back over the 9 day MA and we should be on way to the 40 day MA […]
Exxon Mobil (NYSE:XOM) is the world’s largest independent oil and gas exploration and production company. The gargantuan size of the company comprises of a mix of its own extensive operations spread across the world, along with its equity investments in various global affiliates.
Canadian oilsands firm Sunshine Oilsands Ltd aims to raise $1bn in an initial public offering in Hong Kong, Ming Pao daily reported on Tuesday, citing market sources. The company, which owns 1.14 million acres of oil sands reserves in Athabasca in Canada, earlier this year received funding from Chinese investors to the tune of $236m. Toronto-listed oil producer Husky Energy, controlled by Hong Kong billionaire Li Ka-shing, said last month that it was exploring a potential secondary listing of its shares on the Hong Kong bourse.
Oil sands mining are not typically associated with Africa and the continent's two mega-projects, one in the Congo Basin and another on the island of Madagascar, are running into trouble. The $3bn deal between the Republic of Congo and Eni, Italy's state-owned oil major, runs out this year amid criticism about its lack of transparency and environmental impact. In Madagascar, the partner of France's Total, Madagascar Oil declared a force majeur after the Malagasy government apparently threatened to seize one of the London-listed company's oil fields.
H2O Innovation, a complete water treatment solutions company providing custom designed high performance systems for the municipal, industrial, and natural resources markets, announces today that it has been awarded a major $9.4 million contract by Fort Hills Energy for the Fort Hills Oil Sands Project operated by Suncor Energy Operations. This contract will see H2O Innovation design, build, install, and commission a water treatment package that will provide potable water for the workers of Fort Hills Project currently in development 90 kilometers north of Fort McMurray, Alberta.
After days of discussions with an oil and gas industry association, Environment Canada has confirmed a substantial rise in greenhouse gas pollution from the oilsands sector in 2009, along with data that casts doubts on […]
One way or another — by rail or ship or a network of pipelines — Canada will export oil from its vast northern oil sands projects to the United States and other markets.