Oilsands

Could Canada’s Oilsands Outlast the Competition in North America?

Could Canada’s Oilsands Outlast the Competition in North America?

The Canadian oilsands stand out as a champion survivor capable of enduring even the global demand shrinkage sought by fossil fuel critics, according to a research paper circulated by the C.D. Howe Institute. Author G. Kent Fellows, a University of Calgary economics professor, is predicting the Alberta industry will show endurance in the paper, titled…

December 23, 2022
Cenovus Gives Positive Outlook for 2023 with Jump in Offshore, Oilsands Production

Cenovus Gives Positive Outlook for 2023 with Jump in Offshore, Oilsands Production

A start on additions to oil production offshore Newfoundland topped the 2023 growth agenda prompting a 50% budget increase for 2023 by Calgary-based Cenovus Energy Inc. Spending would jump to C$600-700 million ($450-525 million) in 2023 to begin work on a new platform and drilling, dubbed West White Rose, 180 miles east of Newfoundland’s capital,…

December 7, 2022
Canadian Policymakers Working to Shield Consumers as Energy Transition Edges Forward

Canadian Policymakers Working to Shield Consumers as Energy Transition Edges Forward

Canadian provincial governments have moved to shield customers in four major regions from increased costs associated with federal greenhouse gas (GHG) reduction policies that had previously fallen between the cracks. The moves by Alberta, Ontario. Nova Scotia and Quebec tackle a gap left by the carbon tax, a cornerstone of Canada’s GHG reduction policy. The…

October 25, 2022
Suncor Selling Wind, Solar Assets to Focus on Oilsands, CCS and Hydrogen

Suncor Selling Wind, Solar Assets to Focus on Oilsands, CCS and Hydrogen

Suncor Energy Inc. plans to sell its wind and solar portfolio for C$730 million ($547 million) to a subsidiary of Calgary-based Atco Industries Inc. Suncor CEO Kris Smith said the transaction with Canadian Utilities Ltd. (CUL) “streamlines our portfolio” to focus on oilsands, refining, hydrogen, renewable fuel, and carbon capture and storage (CCS). CUL Vice…

October 6, 2022
Canada’s Oilsands E&Ps Eyeing Enhanced Returns, Decarbonization

Canada’s Oilsands E&Ps Eyeing Enhanced Returns, Decarbonization

Calgary-based Imperial Oil Ltd. plans to use proceeds from high oil prices it realized during 2Q2022 to return more cash to shareholders and reduce greenhouse gas (GHG) emissions; goals echoed by its Canadian peers. The management teams of Canadian Natural Resources Ltd. (CNRL), Cenovus Energy Inc., Imperial and Suncor Energy Inc. each held recent conference…

August 15, 2022
Lack of LNG Export Terminals Stumps Canadian Natural Gas Production, Says EIA

Lack of LNG Export Terminals Stumps Canadian Natural Gas Production, Says EIA

Driven by upstream activity tied to LNG export projects, production of natural gas liquids (NGL) in the gassy Montney Shale has seen a recent boost, according to the U.S. Energy Information Administration (EIA).  In its latest analysis of Canada’s energy commodities, EIA projected the country’s oil production to grow this year and into 2023.  Factors…

July 13, 2022
As BC LNG Gains Momentum, Alberta Forecasts Rising Oilsands Output

As BC LNG Gains Momentum, Alberta Forecasts Rising Oilsands Output

Oilsands plant additions are set to bump up Alberta production by 27% over the next 10 years, but natural gas production in the Canadian province is likely to be flat, according to government forecasts. The latest annual industry review by the Alberta Energy Regulator (AER) said oilsands output should increase to 4.7 million b/d as…

June 16, 2022
Meg Energy Keeps Shipping Contract for Unfinished Oilsands Pipe

Meg Energy Keeps Shipping Contract for Unfinished Oilsands Pipe

Alberta oilsands specialist Meg Energy Corp. reported that it has retained a 20,000 b/d oil shipping contract on the incomplete expansion of the Trans Mountain Pipeline. Management confirmed its plans for capacity on the Trans Mountain Expansion Project (TMX), whose estimated construction cost has ballooned 70%, while reporting fourth quarter and full-year 2021 earnings. TMX…

May 12, 2022
Meg Energy Keeps Shipping Contract for Unfinished Oilsands Pipe

Meg Energy Keeps Shipping Contract for Unfinished Oilsands Pipe

Alberta oilsands specialist Meg Energy Corp. reported that it has retained a 20,000 b/d oil shipping contract on the incomplete expansion of the Trans Mountain Pipeline. Management confirmed its plans for capacity on the Trans Mountain Expansion Project (TMX), whose estimated construction cost has ballooned 70%, while reporting fourth quarter and full-year 2021 earnings. TMX…

March 14, 2022
As Oilsands Production Drives Growth, Cenovus Eyes CCUS Opportunities

As Oilsands Production Drives Growth, Cenovus Eyes CCUS Opportunities

The first stage in the planned Alberta oilsands environmental cleanup is to be a carbon capture, utilization and storage (CCUS) network able to collect greenhouse gas (GHG) emissions from 20 operations, according to bitumen producer Cenovus Energy Inc. “Discussions are ongoing with the federal and provincial governments to ensure the necessary policy and financial support…

February 10, 2022
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