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Tag Archives: oil sands

Canada’s Alberta reaches out to industry for economic advice

CALGARY, Alberta – Alberta’s left-leaning New Democratic Party (NDP) government said on Wednesday it was reaching out to prominent energy and other industry executives for advice to revamp the western Canadian province’s struggling economy. Alberta, home to Canada’s oil sands and the largest source of U.S. crude imports, has been hammered by tumbling global oil prices over the past 12 ...

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Price drop hammers growth in Canada’s oil production – study

CALGARY, Alberta – Weak oil prices will slash growth in Canada’s prolific oil sands, cutting production and discouraging investment in the world’s third-largest crude reserve, according to a new forecast from Canada’s most influential oil industry lobby group. In its annual production forecast, the Canadian Association of Petroleum Producers said it expected the country’s output to rise to 5.3 million ...

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Alberta wildfires burn for 6th day, 10 pct of oil sands crude offline

CALGARY, Alberta – Firefighters battled wildfires in northern Alberta, Canada’s biggest crude-producing region, for a sixth day on Thursday, with two blazes near oil sands facilities still out of control. The wildfires have forced producers in the Western Canadian province, the largest source of U.S. crude imports, to shut in 233,000 barrels per day of crude production, around 10 percent ...

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Hundreds more oil sands staff evacuated on Alberta fire threat

CALGARY, Alberta – Statoil ASA, MEG Energy Corp and Cenovus Energy Inc evacuated hundreds of workers from three oil sands projects in northeastern Alberta on Tuesday as wildfires raged through the key crude-producing region. The latest evacuations are in addition to project shutdowns by Cenovus and Canadian Natural Resources Ltd over the weekend, as companies rushed to remove staff from ...

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Canada’s oil sands cash flows to fall by $21 billion in 2 years

CALGARY, Alberta – Oil sands cash flows will fall by $21 billion in the next two years, energy consultancy Wood Mackenzie said in a report on Tuesday, as low global petroleum prices make it less economical to extract bitumen from northern Alberta. Canada’s oil sands hold the world’s third-largest proven crude reserves after Saudi Arabia and Venezuela, but operating costs ...

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TransCanada plans to seek approval from U.S. for new pipeline project: WSJ

Pipeline company TransCanada Corp is planning to ask the U.S. government for a permit to build a new 200-mile (322 km) pipeline from North Dakota across the border into Canada, the Wall Street Journal reported, citing a source. The company expects to announce the $600 million Upland Pipeline Project proposal in its earnings report on Friday, the newspaper reported. The ...

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TransCanada opposes U.S. EPA on Keystone carbon footprint

TransCanada Corp rejected the U.S. Environmental Protection Agency’s inference that its Keystone XL pipeline would help increase the rate of oil sands production even at lower oil prices, and raise greenhouse gas emissions. The U.S. State Department, which is evaluating the pipeline, is expected to make a recommendation to President Barack Obama, after reviewing comments from the EPA and other ...

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Canada’s B.C. bans transport of oil in pipelines built for LNG

VANCOUVER, Jan 6 – British Columbia has banned the transport of oil on pipelines built specifically for proposed liquefied natural gas terminals, in an effort to quell fears that those lines could eventually be converted to carry oil sands crude to coastal markets. The regulation covers six proposed pipelines, which would all carry natural gas destined for LNG export terminals ...

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