More Unconventional Resources News

Enbridge to expand crude oil pipeline system

Oct 12, 2000 Enbridge Inc., Calgary, says it will proceed with the second phase of a $120 million (Can.) project to expand its main crude oil pipeline system in western Canada. The 76-mile project will add capacity of 40,000 b/d to the line between Enbridge oil terminals at Hardisty, Alta., and Kerrobert, Sask., and increase total line capacity to 1.84 million b/d.

Phillips sells coal assets, raises cash

Oct 12, 2000 Phillips Petroleum Co., Bartlesville, Okla., said Thursday it has sold its coal interests in three separate transactions for $191 million, representing a $48 million after-tax gain. Portions of these transactions are expected to add about $18 million in net income to Phillips's third quarter earnings, and an estimated $30 million in the fourth quarter, the company said.

Syncrude cuts production estimate for 2000

Oct 24, 2000 An explosion in a coker unit during a turnaround maintenance program forced Syncrude Canada Ltd. to cut its 2000 production estimate to 75 million bbl from 79 million bbl. The consortium, which operates an oilsands plant in the Fort McMurray region of northern Alberta, described the incident last week as a pressure wave during the start-up sequence of the fractionator associated with the coker 8-2 unit.

Koch Petroleum to acquire Brazil's ATP Petroleo SA

Oct 26, 2000 Koch Petroleum Group Inc., a subsidiary of Koch Industries Inc. of Wichita, Kan., will acquire ATP Petroleo SA, a Brazilian oil and natural gas exploration and production company, from a second Brazilian company, Paranapanema SA. The purchase price of the acquisition is not being disclosed, Koch said Wednesday.

Shell Canada expects rising costs for Millennium project

Oct 26, 2000 Shell Canada Ltd., Calgary, which recently joined a list of Canadian majors reporting strong third quarter financial performance, warned it expects rising costs at its $4.1 billion Muskeg River oilsands project near Fort McMurray in northern Alberta. Shell said there is potential for a 10% cost increase in the refining side of the project, which it originally expected to cost $2.4 billion.

Finance/Companies news briefs, Oct. 26

Oct 26, 2000 Repsol-YPF � German Oil and Gas Egypt � Talisman Energy � Petro-Canada � Nova Chemical � Suncor Energy � Boots & Coots International Well Control � Prudential Insurance � New York Mercantile Exchange � Aspen Group Resources � PGGB Oil & Gas Partnership � Jascan Resources � Breakwater Resources � Cabre Exploration

Petrobras to open refining investment to private sector

Oct 27, 2000 Brazil is expected to attract new refineries through foreign investment by 2005, said David Zylberstajn, executive director of the National Petroleum Agency (ANP). The director said that this will happen after Petroleo Brasileiro SA (Petrobras) produces more than 2 million b/d of crude oil.

NEB says Canadian synthetic crude production could triple

Nov 2, 2000 The National Energy Board reports that the volume of synthetic crude oil and bitumen produced in Canada will nearly triple within a decade if all of the projects currently underway or planned are completed. NEB said by 2010 the industry would produce about 1.9 million b/d from oilsands deposits in northern Alberta and Saskatchewan.

US greenhouse gas emissions rise in 1999

Nov 3, 2000 US total greenhouse gas emissions rose 0.8% in 1999 to 1,833 million tonnes of carbon equivalent (MMTCe), according to government estimates, compared to 1998 levels. Analysts at the US Energy Information Administration said the increase was slightly lower than the 1.1% average annual increase that characterized total US greenhouse gas emissions during the 1990s but significantly higher than the 0.1% growth between 1997-1998.

Drilling/Production news briefs, Nov. 3

Nov 3, 2000 Transocean Sedco Forex � Santos � Unocal Thailand � Smedvig Asia � Det Norske Veritas � Statoil � Noble Drilling � Friede Goldman Halter � Miller Petroleum

Processing news briefs, Nov. 10

Nov 10, 2000 Jilin Chemical Industry Corp. � Phillips Petroleum � UOP � Intercontinental Quimica � Washington Group International � Ultramar Diamond Shamrock � Syncrude Canada

Canadian drillers advertising for 3,000 workers

Nov 16, 2000 The Canadian drilling industry has launched a national campaign to attract a minimum of 3,000 new workers in the face of serious labor shortages and escalating demand for rigs this winter. The Canadian Association of Oilwell Drilling Contractors says there is an unprecedented and severe shortage of people available to work rigs.

Lawsuit challenges New York law restricting emissions trade

Nov 20, 2000 A group of electricity producers and mining companies has filed suit in US District Court in Albany, NY, challenging a state law that restricts the sale of New York air emissions credits. New York passed a law in May penalizing the seller of federally granted sulfur dioxide air emission allowances, if the buyer is in 14 so-called 'upwind' states. If the allowances are used to offset emissions from power plants in those states, then the company that originated the allowance can be fined.

CNRL to drill 200 wells in Alberta this winter

Nov 22, 2000 Canadian Natural Resources Ltd., Calgary, says it will drill 200 coreholes this winter on leases in northern Alberta, where it plans to develop a major oilsands project. The company says it will file for regulatory approval for the Mic Mac project in 2002. It acquired the leases from BP Amoco in mid-1999.

Association: Western Canada conventional crude reserves decline, other reserves up

Nov 27, 2000 Conventional oil reserves in Western Canada continued to decline in 1999, but remaining reserves of crude oil and oil equivalent increased by 2.1 billion bbl, says the Canadian Association of Petroleum Producers. The CAPP annual reserves report to year-end 1999 said reserves additions came primarily from oilsands areas; the industry also added an estimated 5 tcf of natural gas.

Market Connection

Refinery Units and Equipment for Sale (PA). Pictured: LSG: Gasoline Desulfurizer, 65,000 BPD.

Refinery Units and Equipment for Sale (PA)

Refinery Units and Equipment for Sale (PA). Pictured: LSG: Gasoline Desulfurizer, 65,000 BPD.

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