Oilsands

Imperial Posts Across-the-Board Gains, with Production Strongest in 30 Years

Imperial Posts Across-the-Board Gains, with Production Strongest in 30 Years

Calgary-based Imperial Oil Ltd. returned to profitability during the first three months of 2021, lifted by higher commodity prices and improved operations. President Brad Corson, who discussed the results during a conference call with his management team, attributed the first quarter gains to “decisive actions to weather the economic storm throughout 2020, including making fundamental…

May 3, 2021
Enbridge CEO Confident of Line 3 Completion in Minnesota by Year’s End

Enbridge CEO Confident of Line 3 Completion in Minnesota by Year’s End

Enbridge Inc. still expects to complete and begin service by the end of the year on the contested $2.6 billion leg of the Canadian oil export pipeline now under construction across 240 miles in Minnesota, CEO Al Monaco said Wednesday. “Work is on schedule” for Enbridge Line 3, Monaco said at a Scotiabank CAPP Energy…

April 8, 2021
Suncor Invests in Svante to Quash CO2, Build Out Blue Hydrogen

Suncor Invests in Svante to Quash CO2, Build Out Blue Hydrogen

Suncor Energy Inc., one of Canada’s largest oilsands independents, has agreed to join a group of oil and gas heavyweights to back Svante Inc. as it works to accelerate commercializing more carbon capture technologies. The latest $25 million infusion is designed to fund technology to reduce greenhouse gas (GHG) emissions in industrial applications and to…

March 29, 2021
Texas, Montana AGs Leading Charge to Reinstate Keystone XL Permit

Texas, Montana AGs Leading Charge to Reinstate Keystone XL Permit

Texas and Montana are leading a multistate lawsuit against the Biden administration for revoking the Keystone XL (KXL) crude oil pipeline’s 2019 presidential permit, arguing the administration lacks unilateral authority to overturn energy policy set by Congress. Upon taking office Jan. 20, President Biden issued an executive order (EO) rescinding the approval granted by President…

March 18, 2021
Canada’s Trudeau ‘Disappointed’ as Biden Cancels Keystone Permit, while Alberta Premier Suggests Retaliation

Canada’s Trudeau ‘Disappointed’ as Biden Cancels Keystone Permit, while Alberta Premier Suggests Retaliation

Canadian Prime Minister Justin Trudeau promised to cooperate with President Biden on climate change even though one of the new president’s first actions was to halt the construction permit for Keystone XL (KXL), the Canada-to-Gulf Coast system. “We are disappointed but acknowledge the president’s decision to fulfill his election campaign promise on Keystone XL,” said…

January 21, 2021
Uncertainty Clouds Future of Canada’s NGTL System

Uncertainty Clouds Future of Canada’s NGTL System

The Canadian natural gas industry faces “a high degree of uncertainty,” according to TC Energy Corp.’s supply collection grid in Alberta and British Columbia (BC), Nova Gas Transmission Ltd. (NGTL). Political and economic risks jeopardize up to C$3 billion ($2.3 billion) of additions that the pipeline network would build if the industry fulfilled its potential,…

December 24, 2020
Headwater, Cenovus Partner to Develop Marten Hills Oil in Northern Alberta

Headwater, Cenovus Partner to Develop Marten Hills Oil in Northern Alberta

A C$100 million ($75 million) oil development is planned over the next two years by a new northeastern Alberta drilling partnership announced Monday between Headwater Exploration Inc. and Cenovus Energy Inc. The deal gives Headwater a working ownership from Cenovus of Marten Hills, a 295-square-mile prospect, with C$35 million ($26 million) in cash plus 50…

November 9, 2020
Canada’s Cenovus, Husky Cite Synergies in Merger Worth C$23.6B

Canada’s Cenovus, Husky Cite Synergies in Merger Worth C$23.6B

Cenovus Energy Inc. announced Sunday it would take over Canadian oil and gas rival Husky Energy Inc., combining two of the country’s top producers, in a share swap valued at C$3.8 billion ($2.85 billion). Total estimated value of the transaction, including debt, is C$23.6 billion ($17.7 billion). The run rate synergies achieved by the corporate…

October 26, 2020
NGTL Gains OK to Move More Natural Gas to Thirsty Alberta Oilsands

NGTL Gains OK to Move More Natural Gas to Thirsty Alberta Oilsands

Natural gas flows will increase for thermal oilsands production following approval Thursday of a C$632 million ($474 million) pipeline expansion in northern Alberta. The Canada Energy Regulator (CER) authorized the North Corridor Project to add 81 kilometers (49 miles) of pipe and a compressor to TC Energy Corp.’s western supply grid, Nova Gas Transmission Ltd.…

September 4, 2020
Imperial Temporarily Halts Alberta Oilsands Production After Pipeline Leak

Imperial Temporarily Halts Alberta Oilsands Production After Pipeline Leak

Canada’s Imperial Oil Ltd. is temporarily shutting down its 220,000 b/d Kearl oilsands site while Inter Pipeline Ltd. repairs a leak that interrupted flows of gasoline-like condensate used as thinner for bitumen shipments from the mine. The release, detected over the weekend, affects the northeastern Alberta leg of a 238,000 b/d Inter Pipeline conduit called…

September 2, 2020
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