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

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.

MEG Energy files OSCA application with AER for Surmont oil sands project

Oct 3, 2014

MEG Energy Corp., Calgary, has submitted an Oil Sands Conservation Act application with Alberta Energy Regulator for its Surmont steam-assisted gravity drainage (SAGD) project.

Statoil postpones Corner development at KKD oil sands project in Alberta

Sep 26, 2014

Statoil ASA has decided to postpone for a minimum of 3 years the Corner development at the Kai Kos Dehseh (KKD) oil sands project in northern Alberta. A staff reduction of about 70 employees is expected.

Fort Hills lets $1.3 billion contract for oil sands project

Sep 24, 2014

The Fort Hills Energy LP consortium has let a $1.3 billion engineering, procurement, fabrication, and construction contract to Fluor Corp. for the utilities scope of the Fort Hills oil sands mining project, 90 km north of Fort McMurray, Alta., in the Athabasca region.

Cenovus starts production from Phase F at Foster Creek oil sands project

Sep 19, 2014

Cenovus Energy Inc., Calgary, started oil production earlier this month at its recently completed Phase F expansion at its Foster Creek oil sands project in western Canada. Phase F is expected to add 30,000 b/d of capacity, with production ramping up over the next 12-18 months.

Andora Sawn Lake SAGD pilot begins bitumen production

Sep 18, 2014

Andora Energy Corp. has recompleted its pilot steam-assisted gravity drainage (SAGD) well in Sawn Lake, Alta., and expects a stable bitumen production rate and steam oil ratio over the next 2 months.

API official calls for end to nearly 6-year Keystone XL permit delay

Sep 16, 2014

Three days before the sixth anniversary of TransCanada Corp.’s original filing for presidential approval of the proposed Keystone XL crude oil pipeline’s cross-border permit application, an American Petroleum Institute official said the Obama administration is catering to a small minority at the expense of the US national interest and the wishes of the vast majority of ordinary Americans.

AER approves conversion to low-pressure steaming at CNRL’s Primrose East

Sep 16, 2014

Alberta Energy Regulator has approved an application by Canadian Natural Resources Ltd. to convert to low-pressure steamflooding at its Primrose East Area 1 bitumen project.

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