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

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.

Total, Suncor in $1.75 billion Canada oil sands deal

Dec 20, 2010

Total E&P Canada Ltd. and Suncor Energy Inc. said they will form a strategic oil sands alliance encompassing the Suncor-operated Fort Hills mining project, the Total-operated Joslyn mining project, and the Suncor-operated Voyageur upgrader project.

EPRINC: Economic gains to be made from Keystone XL project

Dec 20, 2010 The proposed Keystone crude oil pipeline expansion would provide an estimated $100-600 million/year of net economic benefits from improved transportation and processing efficiencies in addition to an immediate boost in construction employment, a new Energy Policy Research Foundation Inc. (EPRINC) study concluded.

API plans campaign to support Keystone XL pipeline project

Dec 20, 2010 The American Petroleum Institute is preparing a major grassroots and advertising campaign to support the proposed Keystone XL crude oil pipeline project, an API official disclosed.

Approve Keystone XL

Dec 20, 2010 A decision due early next year from the US Department of State forces the world's largest oil-consuming country to look at energy with uncharacteristic realism.

API plans major campaign to support Keystone XL pipeline project

Dec 8, 2010

The American Petroleum Institute is preparing a major grassroots and advertising campaign to support the proposed Keystone XL crude oil pipeline project, an API official disclosed.

Crude demand to increase, feed-quality changes in store

Dec 6, 2010 World crude oil demand will exceed 87 million b/d by 2025, consistent with an outlook for a return to normal economic and petroleum-demand growth.

Total reserves, production climb on mixed results

Dec 6, 2010

With the inclusion of some large oil reserves in Africa and a boost in Venezuela, Oil and Gas Journal's annual look at reported worldwide reserves shows an increase to 1.47 trillion bbl from 1.35 trillion bbl in last year's survey.

EPRINC: Economic gains to be made from Keystone XL project

Dec 2, 2010

The proposed Keystone crude oil pipeline expansion would provide an estimated $100-600 million/year of net economic benefits from improved transportation and processing efficiencies in addition to an immediate boost in construction employment, a new Energy Policy Research Foundation Inc. (EPRINC) study concluded.

ExxonMobil optimistic about long-term US gas production

Nov 29, 2010 ExxonMobil Corp. believes unconventional sources of natural gas could represent 70% of US gas supplies by 2030, Steve Kirchhoff, ExxonMobil's Americas vice-president for natural gas, told a recent Deloitte LLP oil and gas conference in Houston.

OGJ Newsletter

Nov 29, 2010 International News for Oil and Gas professionals

OGJ Newsletter

Nov 8, 2010

Watching The World: China buys into Chesapeake

Oct 18, 2010

The US oil and gas industry has doubtlessly watched with interest CNOOC International Ltd.'s decision to buy a 33.3% stake in Chesapeake Energy Corp.'s acreage in the Eagle Ford shale project (OGJ Online, Oct. 11, 2010).

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