Oil Sands
News
May 14, 2024
The 24,000 acre blaze expanded to the northeast and is now about 8.4 miles from the Fort McMurray landfill. The fire is one of two listed as out of control in Alberta and the closest to the oil sands, where the bulk of Canada’s 4.9 MMbopd is produced.
News
May 12, 2024
Massive fires burned down swathes of Fort McMurray eight years ago, forcing thousands of residents to evacuate and temporarily shutting more than MMbpd of oil production.
News
May 09, 2024
Production will rise to 3.8 MMbpd by 2030, about 3% higher than projected last year, S&P said Thursday. Companies including Exxon Mobil Corp.’s Imperial Oil Ltd. unit and Canadian Natural Resources Ltd. are expanding existing oil-sands well sites, taking advantage of the start of new pipeline capacity to the Pacific Coast.
News
April 22, 2024
The fire is one of two out-of-control blazes in Alberta, home to the Canadian oil sands, the world’s third-largest crude oil reserves.
News
March 12, 2024
Under the MOU, Suncor is progressing early stage technical and commercial feasibility assessments to determine the quality and quantity of economically recoverable mineable ore on Lease 174C, which is FMFN Reserve Land.
News
March 01, 2024
MEG Energy Corp. said Chief Operating Officer Darlene Gates will succeed Derek Evans as the company’s new chief executive officer, making her the only woman to helm a major oil sands producer.
News
January 12, 2024
Total production jumped by 336,822 bpd to 4.16 MMbpd, the highest in data stretching back to 2010, according to the Alberta Energy Regulator’s website. Output over the first 11 months of the year averaged 3.79 MMbpd, versus 3.73 MMbpd for all of 2022, the data show.
News
October 05, 2023
The acquisition adds 61,000 bpd of net bitumen production capacity and 675 MMbbl of proved and probable reserves to Suncor's existing oil sands portfolio.
News
August 09, 2023
Absolute emissions remained flat at 81 million metric tons of carbon dioxide, while total oil sands production rose by more than 50,000 bpd to 3.1 MMbpd, S&P said.
News
August 08, 2023
ConocoPhillips exercised its right to purchase the remaining 50% interest in Surmont from TotalEnergies SE for about $3 billion in May. The acquisition is expected to close in the second half of 2023.
News
August 04, 2023
Canadian Natural will raise output from its Primrose site by 25,000 bpd in the current quarter and boost production at its Kirby oil-sands operation by 15,000 bpd in the fourth quarter, the company said Thursday.
News
August 01, 2023
Alberta’s total oil output dropped 21% to 2.71 MMbpd, the lowest since June 2016, when oil-sands producers were recovering from wildfires that shut about 1 MMbpd of capacity.
News
May 29, 2023
Taking full control of Surmont’s low-cost production helps ConocoPhillips Chief Executive Officer Ryan Lance meet a commitment to return $11 billion in cash to shareholders this year by letting the company generate free cash flow at even lower crude prices.
News
May 18, 2023
ConocoPhillips is restoring non-essential workers to its Surmont oil-sands site in Alberta after removing them Tuesday because of a wildfire nearby, the company said in an emailed statement. Until now, the blazes were hindering oil and gas production in the western part of the province, far from the oil sands in the northeast.
News
April 27, 2023
The acquisition is for cash consideration of C$5.5 billion (U.S, $4.04 billion), with the potential for additional payments of up to an aggregate maximum of C$600 million ($440.62 million).
News
April 18, 2023
Located in northern Alberta, Fort Hills is Canada’s newest oil-sands mine. The site began operation about five years ago and produced about 164,000 bpd last year, AER data show.
News
April 10, 2023
The pipeline also may allow oil-sands companies to boost production. Imperial Oil Ltd., which is controlled by Exxon Mobil Corp., expects to finish a 15,000-barrel-a-day expansion of its Cold Lake facility ahead of schedule this year, Chief Executive Officer Brad Corson said at the conference.
News
February 22, 2023
Pathways Alliance members have awarded a $10 million contract to Wood, a global engineering and consulting company, to develop detailed plans for a 400-kilometre CO2 transportation line that will eventually link more than 20 oil sands facilities with a hub for permanent carbon storage in the Cold Lake, Alberta region.
News
January 30, 2023
TotalEnergies EP Canada Ltd acquired an additional 6.65% interest in the Fort Hills Energy Limited Partnership and associated sales and logistics agreements from Teck Resources Limited, for a consideration of $233.39 million.
News
December 01, 2022
Canadian Natural Resources Ltd., Canada’s largest oil and gas producer, is aiming to raise production as high as 1 million barrels a day in 2023 for the first time as the company ramps up drilling amid historically high prices.
News
July 18, 2022
The Canadian government released potential designs for an emissions cap on the oil and gas industry, the next step in Prime Minister Justin Trudeau’s plan to cut emissions in the sector by 42% by 2030.
