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

IPC: Alberta attacks Kyoto agreement, pushes Alberta alternative

Oct 14, 2002 Complying with the Kyoto Protocol on Climate Change would "trigger a migration of capital investment out of Canada," said Murray Smith, Alberta minister of energy, in a keynote speech late last month to the International Pipeline Conference in Calgary.

Ottawa's plan to ratify Kyoto Protocol tops Canadian independents' concerns

Oct 21, 2002 A pledge by Ottawa to ratify the Kyoto Protocol on Climate Change by yearend is the No. 1 issue facing Canadian independents.

OGJ Newsletter

Oct 21, 2002 Total oil stocks in Organization for Economic Cooperation and Development countries fell in August, and world oil production increased in September, but the International Energy Agency warned that current high oil prices carry too many financial disincentives for holding inventories.

Diluent availability will constrain Canada's heavy oil, bitumen development

Oct 28, 2002 Despite significant proposed investments to develop Canada's heavy oil and bitumen reserves, production will continue to lag developments in Latin America.

Shell continues to press support for sustainability research

Oct 28, 2002 Royal Dutch/Shell Group continues to press its campaign to support research on sustainability issues.

Area Drilling

Nov 11, 2002 An exploration group is gearing up to acquire a 3,000 sq km 3D seismic survey in 2003 that will represent the first exploration in the Fustercasas-Hesperides basin off northwestern Africa.

Steaming starts in large-scale SAGD project

Nov 11, 2002 In September, Petro-Canada started injecting steam in its $290-million (Can.) MacKay River steam-assisted gravity drainage (SAGD) project that will recover bitumen from oil sands lying at about a 100-m depth.

OGJ Newsletter

Nov 25, 2002 Continued drops in US natural gas production and drilling, plus earlier draws of gas from storage because of colder fall weather, quickly will tighten market fundamentals, said Stephen Smith, president and founder of Stephen Smith Energy Associates, Natchez, Miss.

Company News: EnCana to sell Express, Cold Lake pipelines to two buyers

Dec 2, 2002 Two buyers have signed separate agreements to purchase EnCana Corp.'s interests in the Express and Cold Lake pipeline systems for $1.6 billion (Can.).

IEA chief: Worldwide energy security favors nonconventional oil

Dec 9, 2002 Because of oil price fluctuations and terrorist threats, the issue of energy security is back on the public agenda with renewed focus on nonconventional sources, says Robert Priddle, executive director of the International Energy Agency.

Watching Government:Sulfur glut

Dec 23, 2002 Reducing fuel sulfur is a clear industry priority. Figuring out what to do with that extra sulfur once refiners remove it isn't. Yet. But some chemical marketers think it should be an industry concern.

Worldwide reserves increase as production holds steady

Dec 23, 2002 Worldwide oil and gas reserves estimates have surged from a year ago. This is due to revisions and new data related to many countries' reserves figures. The biggest change is in the oil reserves figure now listed for Canada.

OGJ Newsletter

Dec 23, 2002 Venezuela's beleaguered President Hugo Chavez last week authorized the military to commandeer private ships, trucks, and planes to distribute fuel and food as a general strike to oust him approached its third week.

OGJ Newsletter

Jan 13, 2003 There was speculation at presstime last week that the Organization of Petroleum Exporting Countries would hike its new production quota by more than 1 million b/d on Jan. 12 in Vienna to offset the loss of oil supplies from Venezuela's strike and an imminent war in Iraq.

COMPANY NEWS: Apache, TotalFinaElf expand into uncommon areas

Jan 20, 2003 Two recent company transactions have taken two operators—one large US independent and another international major—into uncharted or uncommon areas of their operations.
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