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 GOP bill prods Obama to reverse Keystone XL delay

Dec 1, 2011

US Senate Republicans introduced legislation that would deem the proposed Keystone XL crude oil pipeline federally approved 60 days after enactment if the Obama administration did not act. But several said they would rather see US President Barack Obama reverse his Nov. 11 decision to delay acting on TransCanada Inc.’s cross-border permit application for the project until after the 2012 elections.

CNOOC completes acquisition of oil sands operator OPTI

Nov 28, 2011

A unit of CNOOC Ltd. completed its $2.1 billion acquisition of Canadian oil sands producer OPTI Canada Inc., Calgary (OGJ Online, July 20, 2011).

Drug tunnels give border issues new reason for alarm

Nov 18, 2011

National obsessions blocking work vital to US energy supply apply just as logically to struggles against crime on the US-Mexico border. It’s just a matter of spreading fear.

Keystone XL delay serves needs only of obstructionists

Nov 11, 2011

By definition, only one item in a list of bad attributes can be the worst. Much about a setback to the proposed Keystone XL pipeline is bad. So what’s the worst?

IHS CERA: State Department's Keystone XL delay creates new uncertainties

Nov 11, 2011

The US Department of State’s Nov. 10 decision to delay a final recommendation on the proposed Keystone XL crude oil pipeline’s cross-border permit application so alternative routes can be considered will create new uncertainties for Canadian heavy oil producers as well as US refiners, an IHS CERA specialist said.

State Department delays Keystone XL decision until 2013

Nov 10, 2011

In a move that will delay a decision on the Keystone XL pipeline until at least the first quarter of 2013, the US Department of State will study an alternate route for the important project to connect the oil sands region of Alberta with high-conversion refineries on the Texas Gulf Coast.

State Department IG's office to review Keystone XL permit process

Nov 9, 2011

The US Department of State’s inspector general’s office will conduct a special review of DOS’s handling of the environmental impact statement and national interest determination for TransCanada Corp.’s proposed Keystone XL crude oil pipeline project.

API: US support strong for importing more Canadian crude

Nov 4, 2011

A survey found 79% of 924 US registered voters support importing more crude oil from Canada, the American Petroleum Institute announced.

Keystone XL is 'overwhelmingly' in US interest, supporters say

Oct 7, 2011

The essential question the US Department of State must address as it considers the Keystone XL pipeline’s cross-border permit application is whether the project is in the national interest of the US, several of the project’s supporters said.

NWRP lets FEED contract to Fluor for Alberta refinery

Oct 6, 2011

North West Redwater Partnership (NWRP) let a contract to Fluor Corp. to provide front-end engineering and design (FEED) services for a 50,000-b/d bitumen refinery project in Alberta. Project cost is $5 billion (Can.); completion is slated for 2014.

MARKET WATCH: Hopes for Euro-zone solution lift energy prices

Sep 27, 2011

After falling heavily through four of five trading sessions last week, energy prices rebound slightly Sept. 26 on renewed hope the Euro-zone may yet resolve its sovereign debt crisis.

Industry groups press for prompt Keystone XL project approval

Sep 19, 2011

Oil industry groups increased pressure on the US Congress and President Barack Obama to approve the proposed Keystone XL crude oil pipeline project’s cross-border permit application.

Enbridge to expand Athabasca crude oil pipeline

Sep 16, 2011

Enbridge Inc. said it will construct a twin to the southern section of its Athabasca Pipeline from Kirby Lake, Alta., to the crude oil hub at Hardisty, Alta., at an estimated cost of $1.2 billion.

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.

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