More Unconventional Resources News

EIA boosts estimate of US energy demand in 2020

Nov 28, 2000 The US Energy Information Administration said Tuesday long-term US economic growth is expected to average 3%/year through 2020, increasing projected energy demand from 96 quadrillion btu in 1999 to 127 quadrillion btu in 2020. In its annual energy outlook a year ago, EIA estimated long-term economic growth at 2.1%/year through 2020.

Two Canadian oil sands projects advance

Nov 28, 2000 OPTI Canada Inc. plans to build a $450 million (Can.) oilsands project in the Fort McMurray region of northern Alberta. Initial output would be 30,000 b/d. And Japan Canada Oil Sands plans to increase output at its Hangingstone pilot from 1,500 b/d to 10,000 b/d by 2005.

Camisea contract signing delayed

Nov 29, 2000 The long-awaited signing of contracts for development of the Camisea natural gas project has been put on hold in order to evaluate details, said Carlos Herrera, Peru's new energy and mining minister. The signing was recently postponed from Nov. 28 to a tentative Dec. 5. According to press reports, the government is considering postponing the signing for a further 30 days.

Ecuador's solutions

Dec 1, 2000 Economic pressures continue for Ecuador, and increasing oil revenues is its best hope for relief.

Oil groups warn against US roadless lands proposal

Dec 18, 2000 National energy and mineral associations have warned US President Bill Clinton that the US Forest Service is proposing to prohibit most road building or reconstruction on 49 million acres of inventoried roadless areas initially, rising to 58.5 million acres in 2004.

Drilling/Production news briefs, Dec. 20

Dec 20, 2000 Digital Gas � Dong Sheng � Centurion Energy International � UTS Energy � TrueNorth Energy LP � J. Ray McDermott

Suncor eyes completion of oil sands plant

Dec 22, 2000 Suncor Energy Inc., Calgary, plans to spend $935 million (Can.) on capital programs in 2001, about half its 2000 outlay, as its Project Millennium oil sands expansion program nears completion. Start up of the $2.8 billion project is scheduled for the second half of 2001.

AES on verge of completing tender offer for Chilean generator for $1.3 billion

Dec 29, 2000 AES Corp. is about to complete its tender offer for Chilean power generator Gener SA for about $1.3 billion. The Virginia based power company said it purchased 3.5 billion shares of Gener�s common stock representing 61.57% of the issued and outstanding capital stock.

Thailand's EGCO bids on 2 projects

Jan 3, 2001 Electric Generating PLC (EGCO), Thailand's first independent power company, looks set to acquire a 47.5% in BLCP Power Ltd, sponsor of the 1,346 Mw coal-fired project in Thailand, and 80% of the 126 Mw Huay Ho hydropower scheme in Laos. The planned $600 million (US) acquisitions form part of EGCO's strategy to double its electricity generating portfolio to 5,000 Mw in early 2004, said Sitthiporn Ratanopas, managing director.

Second phase set for Fort Hills oil sands project

Jan 12, 2001 TrueNorth Energy Corp., Calgary, plans a second phase to its proposed Fort Hills oil sands project that will double expected peak production to 190,000 b/d of bitumen and nearly double the project's cost to $2 billion (Can.).

Premcor: Low-sulfur regulations force refinery closure

Jan 17, 2001 Premcor Inc. St. Louis, Mo., said it would permanently close its refinery in Blue Island, Ill., at the end of the month. Premcor said new low-sulfur fuel regulations will make the refinery no longer cost effective. Premcor said it would focus on higher-return projects at its other three refineries.

Unocal begins leaching Texas gas storage cavern

Jan 17, 2001 Unocal Global Trade said Wednesday it has begun solution mining its Keystone gas storage facility near Kermit, Tex. Located near the Waha Hub, the Keystone project will have 3 bcf of high deliverability salt cavern storage capacity, with sustainable 100 MMcfd injection and 200 MMcfd withdrawal capability.

Drilling/Production news briefs, Jan. 18

Jan 18, 2001 Fortune Oil & Gas � Syncrude Canada � Esso Production Malaysia � Smedvig

Anderson Exploration to purchase Numac

Jan 19, 2001 Anderson Exploration Ltd. has offered to purchase Numac Energy Inc. in a transaction worth $960 million (Can.), including $135 million in debt. Anderson offered $8/share (Can.) in cash for all the issued and outstanding shares of Numac.

Enbridge repairing rupture of Alberta heavy oil line

Jan 19, 2001 Enbridge Pipelines Inc. plans to resume throughput on its Line 4 heavy oil pipeline Saturday morning after a bypass is completed around a rupture discovered early Wednesday morning. The company estimated 15,000 bbl of oil was spilled in a marshy slough near Hardisty, Alta.

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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