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

Cenovus trims budget, slows oil sands work

Dec 16, 2014

Cenovus Energy Inc., Calgary, is trimming its capital spending in response to declining crude oil prices and will slow development of some of its thermal oil sands projects in Alberta.

Pengrowth starts commercial steam operations at Lindbergh thermal project

Dec 16, 2014

Pengrowth Energy Corp., Calgary, reported the startup of commercial steam operations at Phase 1 of its Lindbergh thermal project in the Cold Lake area of eastern Alberta.

Sunshine Oilsands appoints chief executive officer

Dec 15, 2014

Sunshine Oilsands Ltd., Calgary, has appointed Luo Hong as chief executive officer and Jiang Qi as president and chief operating officer.

Husky reports start of steam operations at Sunrise oil sands project

Dec 12, 2014

Husky Energy, Calgary, reported the start of steam operations at the in situ Sunrise Oil Sands Project in northeastern Alberta.

Kearl resumes oil sands production, Imperial reports

Dec 9, 2014

Imperial Oil Ltd., Calgary, has resumed production at its Kearl oil sands operations in Alberta after a precautionary shutdown due to a “vibration issue” with the plant’s ore-crusher unit.

Nexen starts bitumen production at Kinosis 1A in Alberta

Dec 8, 2014

China National Offshore Oil Corp. Ltd. reported the start of bitumen production at the Kinosis 1A (K1A) steam-assisted gravity drainage (SAGD) facility in Alberta.

Suncor wraps maintenance on Alberta upgrader

Dec 1, 2014

Suncor Energy Inc. has completed 11 weeks of scheduled maintenance on one of two oil sands upgraders at its operations near Fort McMurray, Alta.

Senate debates, then barely rejects, Keystone XL approval bill

Nov 19, 2014

The US Senate finally debated a bill authorizing construction of the proposed Keystone XL crude oil pipeline on Nov. 18 before rejecting the measure by a single vote. Republicans vowed to bring the measure back once they assume majority control in January.

Cenovus receives approvals for Telephone Lake oil sands project

Nov 18, 2014

Cenovus Energy Inc., Calgary, has received approval from the Alberta Energy Regulator (AER) and the province of Alberta for its wholly owned Telephone Lake thermal oil sands project, 90 km northeast of Fort McMurray in the company’s Borealis Region of northern Alberta.

Saudis have reasons better than shale to let prices fall

Nov 17, 2014

Only by overlooking important forces in markets and politics can anyone assert that Saudi Arabia is letting crude prices fall mainly to extinguish competition from North American shale oil.

Oil sands 2014-38 outlay to top $514 billion

Nov 17, 2014

Total investment in Canadian oil sands projects during 2014-38 will exceed $514 billion (2013 Can.), according to the Canadian Energy Research Institute (CERI).

Imperial shuts down Kearl oil sands due to ‘vibration issue’

Nov 11, 2014

Imperial Oil Ltd., Calgary, reported a precautionary shutdown of its Kearl oil sands operations in Alberta due to a “vibration issue” with the plant’s ore-crusher unit.

Oil sands 2014-38 outlay to top $514 billion

Nov 10, 2014

Total investment in Canadian oil sands projects during 2014-38 will exceed $514 billion (2013 Can.), according to the Canadian Energy Research Institute (CERI).

Canadian firms' 3Q results highlight oil sands, heavy oil production rise

Nov 4, 2014

Third-quarter financial and operating results included updates on several oil sands projects in Alberta.

WoodMac: High WCS-WTI price spread seen lingering

Nov 3, 2014

Growing production of Canadian heavy crude oil and problems delivering the new supply to distant markets will keep the discount of Western Canadian Select crude high against the West Texas Intermediate price, according to Wood Mackenzie.

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