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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Apr 26, 2010

MARKET WATCH: Crude takes largest 1-day loss since February

Apr 19, 2010

The price of the front-month crude contract continued to fall Apr. 16 in the New York market, dropping 2.65% to close slightly above $83/bbl in the largest 1-day percentage decline since early February as it followed the equity market down after the US Securities and Exchange Commission charged The Goldman Sachs Group Inc. with fraud over subprime-related trades of financial securities.

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Apr 19, 2010

API: US gasoline production broke record in March

Apr 16, 2010

US refineries produced more gasoline in March—an average 9.3 million b/d—than any previous month on record, the American Petroleum Institute said.

Sinopec to buy ConocoPhillips stake in Syncrude

Apr 12, 2010

Sinopec International Exploration & Production Co. agreed to buy 9.03% interest from ConocoPhillips in the Syncrude oil sands joint venture in Alberta for $4.65 billion.

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Apr 12, 2010

Nexen appoints executive vice-president

Apr 8, 2010

Nexen Inc. has appointed Matt Fox as executive vice-president, international oil and gas. Fox succeeds Laurence Murphy, who retired in late 2009.

China refinery tests asphaltenes extraction process

Apr 5, 2010 As global reserves of conventional crude oil continue to decline, increased reliance on heavy and ultraheavy feedstocks will result in higher upgrading costs and more importantly a comparatively larger carbon footprint.

ConocoPhillips shedding assets, keeping part of Lukoil

Mar 24, 2010

ConocoPhillips on Mar. 24 reiterated its plans to shed $10 billion in assets during 2010-11.

Shell to divest 15% of its refining capacity

Mar 22, 2010 Royal Dutch Shell PLC forecast its production will climb 11% during 2009-12, saying it plans to cut costs by divesting 15% of its refining capacity and 35% of its retail markets.

Editorial: Alberta's royalty retreat

Mar 22, 2010 Alberta is trying to correct its oil and gas royalty mistake of 2007.

Shell to divest 15% of its refining capacity

Mar 16, 2010

Royal Dutch Shell PLC forecast its production will climb 11% during 2009-12, saying it plans to cut costs by divesting 15% of its refining capacity and 35% of its retail markets.

Idaho's Boise basin gets exploratory drilling program

Mar 15, 2010 Calgary independents have spud the first well in a five-well exploratory drilling program in the Boise basin.

IHS Herold: Global upstream M&A activity up in 2009

Mar 15, 2010 The value of global upstream mergers and acquisitions jumped 40% during 2009 to just under $150 billion, IHS Herold Inc. reported Mar. 8 in its annual Global Upstream M&A Review.

OGJ Newsletter

Mar 15, 2010
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