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

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Mar 2, 2009

OGJ Newsletter

Mar 9, 2009

Fourth-quarter results slide on weaker oil, gas prices

Mar 16, 2009 Collectively, a sampling of US and Canadian operators posted dismal results for the fourth quarter of 2008.

Deutsche Bank analyzes oil production costs

Mar 16, 2009 A recent Deutsche Bank analysis finds that in the short term, oil prices likely would have to fall to $20/bbl and below for nonmembers of the Organization of Petroleum Exporting Countries to shut in a large amount of production.

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Apr 6, 2009

COMPANY NEWS: Suncor, Petro-Canada merge in $19.3 billion (Can.) deal

Apr 6, 2009 Suncor Energy Inc. and Petro-Canada, both of Calgary, have agreed to merge the two companies in a $19.3 billion (Can.) transaction. The resulting company, Suncor, will have 7.5 billion boe of proved and probable reserves with existing production of 680,000 boe/d.

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Apr 6, 2009

Special Report: Economic slump to chill capital spending in 2009

Apr 27, 2009 Oil and gas producers—slammed by the worldwide economic downturn, lower oil and gas prices, and tight credit markets—have slashed their 2009 capital budget plans.

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May 4, 2009

Shock in Canada: Alberta not worst on environment

May 4, 2009 In Canada, calling Alberta green—even brownish green—can cause a ruckus.

Watching The World: Alberta’s premier visits OPEC

May 11, 2009 Alberta Premier Ed Stelmach has the interests of his province’s oil and gas industry very much at heart.

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May 18, 2009

Aramco to stick with investment program, production levels

May 18, 2009 Saudi Arabia’s state oil company is feeling the impact of lower prices, but does not plan to change its spending plans or production levels, its chief executive officer said on May 6.

CERA study says Canadian oil sands boost total GHG emissions 5-15%

May 25, 2009 Total emissions of greenhouse gases associated with Canadian oil sands exceed those related to average crude oil processed in the US by 5-15%, says a study by IHS Cambridge Energy Research Associates.

First-quarter E&P earnings plummet on lower prices

Jun 1, 2009 Lower oil and gas prices and increased costs sharply reduced the earnings of some US and Canadian producers in the first 3 months of 2009.
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