Oil Sands ///

Growth in Canadian oil sands projects drives need for more pipelines to 2030: CAPP

Canada will need more pipelines built through to 2030 to transport an additional 1.3 MMbpd of oil sands production to markets across North America and around the world, the Canadian Association of Petroleum Producers (CAPP) announced today in its 2017 Crude Oil Forecast, Markets and Transportation report.

Shell completes divestment of oil sands interests in Canada

Royal Dutch Shell plc has announced the completion of two previously announced agreements by Shell Canada Energy, Shell Canada Limited and Shell Canada Resources that will see Shell sell all its in-situ and undeveloped oil sands interests in Canada and reduce its share in the Athabasca Oil Sands Project (AOSP) from 60% to 1

Kinder Morgan commits to pipe linking Canadian crude to Asian markets

Kinder Morgan Inc. has committed to expanding a pipeline that will allow Canadian crude to be exported to Asia, a controversial C$7.4 billion ($5.5 billion) project that’s set to face revitalized opposition amid political upheaval in the nation’s Pacific Coast province.

Cenovus acquires assets from ConocoPhillips in western Canada

Cenovus Energy Inc. has closed its previously announced purchase of assets in western Canada from ConocoPhillips after receiving all necessary regulatory approvals for the transaction.

PSAC raises Canadian drilling forecast by more than 2,500 wells for 2017

The Petroleum Services Association of Canada (PSAC), in its second update to the 2017 Canadian Drilling Activity Forecast, announced its revision of the forecasted number of wells drilled (rig released) across Canada for 2017 to 6,680 wells.

Alberta's McCuaig-Boyd sees glass half-full in oil-sands deals

The $20 billion of oil-sands assets that Canadian producers bought from foreign companies in a recent spate of deals shows they’re doubling down on their operations and the region’s resources, Alberta Energy Minister Marg McCuaig-Boyd said.

Canadian oil disruption sends ripples from Alberta to Louisiana

An ongoing disruption at Canada’s second-biggest oil sands upgrader has sent prices soaring from Alberta to Louisiana.

State oil companies stay in oil sands as Conoco, Shell exit

Four years ago, Canada’s government tried to keep state-owned companies out of Alberta’s oil sands. Now, they may be around for a while.

Cenovus said to seek $1.35 billion in asset sales for Conoco buy

Cenovus Energy Inc. plans to raise about C$1.8 billion ($1.35 billion) from property sales as it seeks to offset the cost of its C$17.7 billion purchase of ConocoPhillips’ Canadian oil assets, according to people familiar with the matter.

ConocoPhillips sells Canadian oil and gas assets to Cenovus for $13.3 billion

ConocoPhillips has signed an agreement with Cenovus to sell its 50% non-operated interest in the Foster Creek Christina Lake (FCCL) oil sands partnership, as well as the majority of its western Canada Deep basin gas assets, for a total of $13.3 billion.

Marathon announces multi-billion-dollar oil sands divestiture, Permian acquisition

Marathon Oil Corporation announced today that it has signed an agreement to sell its Canadian subsidiary, which includes the Company's 20% non-operated interest in the Athabasca Oil Sands Project (AOSP), to Shell and Canadian Natural Resources Limited for $2.5 billion in cash, excluding closing adjustments.

Shell cuts debt with $7.25-billion sale of Canada oil sands

Royal Dutch Shell Plc will sell almost all of its production assets in Canada’s oil sands in a $7.25-billion deal that cuts debt and reduces involvement in one of the most environmentally damaging forms of fossil-fuel extraction.

Canada sees no remaining hurdles on Trump's Keystone XL approval

TransCanada Corp.’s Keystone XL pipeline doesn’t face any major remaining hurdles to U.S. approval, Canada’s ambassador to Washington said.

Shell shuns new oil sands projects, as low crude prices force cost control

Royal Dutch Shell Plc is unlikely to take on new oil-sands projects as it maintains a grip on costs after crude’s crash forced competitors to write down Canadian reserves.

Canada's fading oil promise leaves U.S. majors struggling

Oil-sands investments in Western Canada that gobbled tens of billions of dollars over the past decade are proving an Achilles heel for some of the world’s biggest energy producers.

Exxon bows to oil crash with historic global reserves cut

Exxon Mobil Corp. disclosed the deepest reserves cut in its modern history as prolonged routs in oil and natural gas markets erased the value of a $16-billion oil-sands investment and other North American assets.

Suncor output hits record with oil-sands unit at full speed

Suncor Energy Inc.’s production rose to a record last quarter after the oil-sands giant took control of the Syncrude processing unit and put it at full throttle.

Trump’s 20% import tax good news for Canadian oil patch

U.S. President Donald Trump’s controversial 20% tax on imports from Mexico to pay for a border wall would come as a second gift in less than a week for Canada’s oil patch.

Canada faces era of pipeline abundance after Keystone XL move

President Donald Trump’s decision to revive TransCanada Corp.’s Keystone XL pipeline may herald a new era of pipeline abundance for Canadian oil producers after years of bottlenecks, while lowering the discount on the region’s crude.

Canadian drillers brave deep freeze as oil patch revives growth

In the snowy prairies of Western Canada, not even temperatures below -40 degrees have stopped Stampede Drilling Ltd.’s 60 recently rehired workers from manning the oil-service provider’s rigs after a nine-month dry spell for the business.