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

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.

US House committee approves Keystone XL project permit bill

Jun 24, 2011

The US House Energy and Commerce Committee on June 23 passed legislation aimed at pressuring the Obama administration to reach a decision on the Keystone XL crude oil pipeline project’s cross-border permit application.

House subcommittee passes bill to expedite Keystone XL decision

Jun 16, 2011

A US House Energy and Commerce subcommittee passed a bill aimed at expediting a final Department of State decision on a cross-border permit for a proposed crude oil pipeline from Canada.

CAPP sees robust growth for Canadian oil production

Jun 2, 2011

Canadian oil production will increase to 4.7 million b/d in 2025 from 2.8 million b/d in 2010, according to the latest forecast from the Canadian Association of Petroleum Producers (CAPP).

Burkhard: Pipelines limit Canadian oil sands US supply role

May 24, 2011

Canadian oil sands could play an even larger supply role for the US, but the North American pipeline system will have to adjust to accommodate the additional supplies, James Burkhard, managing director of IHS-CERA Inc.’s global oil and gas group, told a US House Energy and Commerce subcommittee.

OTC: Fossil fuels, technology key to future energy supply

May 4, 2011

Technology development is crucial to enabling the oil and gas industry to meet future world energy demand, speakers said during a May 3 panel discussion at the Offshore Technology Conference in Houston.

US DOS plans second Keystone XL project comment period

Mar 16, 2011

The US Department of State will seek additional public comments on the proposed Keystone XL crude oil pipeline project.

Alberta's ERCB responds to oil sands pipeline risk report

Feb 22, 2011

Alberta’s Energy Resources Conservation Board (ERCB) responded to the Natural Resources Defense Council (NRDC), Pipeline Safety Trust, National Wildlife Federation, and Sierra Club report “Tar Sands Pipeline Safety Risks,” describing it as misleading regarding pipeline safety in Alberta and on the characteristics of diluted bitumen.

Pipeline Safety Trust reports transport risks of oil sands crude

Feb 17, 2011

The Natural Resources Defense Council, Pipeline Safety Trust, National Wildlife Federation, and Sierra Club, issued a report ‘Tar Sands Pipeline Safety Risks’ highlighting what the organizations call an increased risk of pipeline spills due to the elevated corrosivity of oil sands crude.

Enbridge reports lower 2010 earnings, but sees growth in 2011

Feb 4, 2011

Enbridge Inc. announced 2010 net earnings of $963 million, or $2.60/common share, for the year ended Dec. 31, 2010, compared with $1.555 billion, or $4.27/common share, for the year ended Dec. 31, 2009.

US Chamber's energy institute unveils 'energy realities' plan

Feb 1, 2011

The US Chamber of Commerce’s Institute for 21st Century Energy unveiled a five-part plan that calls on maximizing domestic resources, making new and clean energy technologies more affordable, eliminating regulatory barriers to new projects, not putting existing energy sources out of business, and encouraging the free and fair trade of energy resources and technologies globally.

API calls on DOS to grant Keystone XL permits

Jan 27, 2011

The American Petroleum Institute called on the US Department of State to grant a pending permit for TransCanada Corp.’s Keystone XL crude oil pipeline project “as a matter of critical national interest.”

BP: Nonfossil fuels to be 'major' energy sources by 2030

Jan 25, 2011

The global fuel mix will continue to diversify, with increased emphasis on alternative energy until by 2030 “for the first time nonfossil fuels will be major sources of supply growth,” said analysts at BP PLC.

Marathon Oil to spin off refining, pipeline assets

Jan 13, 2011

Marathon Oil Corp. will spin off its downstream business, forming an independent refiner to be named Marathon Petroleum Corp. based in Findlay, Ohio.

IHS: Global upstream sales hit record $107 billion in 2010

Jan 5, 2011

Worldwide sales of upstream oil and gas properties reached a record $107 billion in 2010, a 160% increase above 2009 transactions, according to preliminary figures by IHS Inc., Englewood, Colo., for its 2011 review of mergers and acquisitions.

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