Oil Sands

Surprising to many, Canada is the No. 1 oil exporter to the United States. Increasingly, these supplies come from Canada’s oil sands in northern Alberta. That province’s estimated oil sands deposits are in excess of 1.7 trillion barrels of crude bitumen. More than $91 billion has been invested in the oil sands in recent years and over $170 billion in oil sands-related projects. Venezuela and California are also heavy oil producers.

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Canadian Oil Sands
Canadian Oil Sands

Oil Sands News

API-backed study eyes regulatory impacts on energy, job growth

Sep 7, 2011

US government policies that encourage development of new and existing oil and gas resources could, by 2030, increase production by more than 10 million b/d of oil equivalent, support 1.4 million more jobs, and raise another $803 billion of government revenue, a study commissioned by the American Petroleum Institute concluded.

US Chamber urges Congress, Obama to take positive energy steps

Sep 6, 2011

US Chamber of Commerce Pres. Thomas J. Donahue urged Congress and US President Barack Obama to open more offshore areas to oil and gas leasing and development, expand access to onshore federal lands, promote more US natural gas development, and approve the proposed Keystone XL pipeline from Canada as one of six immediate actions to create more US jobs.

After vital moves, US stays on course for overregulation

Sep 2, 2011

Despite welcome moves to corral environmental zealots, the Obama administration remains committed to regulation in general.

Oil sands crude will reach US without Keystone XL pipeline, consultant says

Aug 30, 2011

EnSys Energy & Systems Inc. and Navigistics Consulting concluded in a report issued as part of the US Department of State’s final environmental impact statement (FEIS) on TransCanada’s proposed Keystone XL crude oil pipeline that it is “almost impossible…to conceive of a situation” wherein the anticipated 1.4 million b/d growth in Western Canadian Sedimentary Basin crude could not be shipped to the US, even if Keystone XL is not approved.

Costs, labor top list of oil sands risks

Aug 29, 2011

Cost increases and labor shortages appear atop a list of risks facing producers in the Canadian oil sands, balanced by opportunities that include growing global oil demand and the economic importance of oil sands production to Canada.

DOS issues final EIS for proposed Keystone XL pipeline

Aug 26, 2011

The US Department of State issued a final environmental impact statement of the proposed Keystone XL crude oil pipeline. The finding that the project would have limited environmental impacts drew cheers from oil and gas and other business groups, and boos from environmental organizations.

CNRL resumes synthetic crude sales from the Horizon upgrader

Aug 23, 2011

Canadian Natural Resources Ltd. (CNRL) has resumed the sale of synthetic crude oil from its Horizon oil sands operation in Northern Alberta.

Clinton assures Canada over US interests in Keystone pipeline

Aug 9, 2011

US Sec. of State Hillary Clinton has assured Canada’s Foreign Affairs Minister John Baird that Washington will decide by yearend whether to issue a permit for the proposed Keystone XL oil pipeline stretching from Canada to Texas.

Albertan gas plant to expand

Aug 5, 2011

Pembina Pipeline Corp., Calgary, will expand capacity by 50 MMcfd at one of its gas plants at the Cutbank shallow gas processing complex to meet high plant utilization and strong demand. The complex is in west central Alberta.

Judge dismisses Sierra Club's oil sands lawsuit

Aug 3, 2011

A federal district court dismissed a lawsuit by the Sierra Club and other environmental organizations aimed at preventing the US Department of Defense from buying fuels made from Canadian bitumen and heavy oil.

US House passes bill to expedite Keystone XL permit decision

Jul 27, 2011

The US House approved a bill setting a Nov. 1 deadline for the Obama administration to decide on TransCanada Corp.’s application for a cross-border permit for its proposed Keystone XL crude oil pipeline project.

US House passes bill to expedite Keystone XL permit decision

Jul 27, 2011

The US House approved a bill setting a Nov. 1 deadline for the Obama administration to decide on TransCanada Corp.’s application for a cross-border permit for its proposed Keystone XL crude oil pipeline project.

OSHOT: Regulatory delays threaten Keystone XL, Cushing MarketLink

Jul 20, 2011

Continued regulatory delays could place the proposed 700,000-b/d Keystone XL pipeline in jeopardy, according to Robert Jones, TransCanada vice-president and manager of the Keystone Pipeline project, while speaking to reporters July 20 on the sidelines of the Oil Sands & Heavy Oil Technologies conference in Calgary.

CNOOC to acquire OPTI Canada for $2.1 billion

Jul 20, 2011

A unit of CNOOC Ltd. will pay $2.1 billion for Canadian oil sands producer OPTI Canada Inc., Calgary, which filed on July 13 for creditor protection under Canada’s Companies’ Creditors Arrangement Act.

ConocoPhillips to split into upstream, downstream companies

Jul 14, 2011

ConocoPhillips plans to separate its upstream and downstream businesses into two stand-alone, publicly traded corporations via a tax-free spinoff of the refining and marketing business to ConocoPhillips shareholders.

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