Trans Mountain pipeline expansion to boost Canadian oil production
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...
View ArticleAlberta regulator reconsiders Suncor oil sands expansion
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.
View ArticleSuncor Energy to acquire TotalEnergies’ Canadian operations, including Fort...
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).
View ArticleWildfires threaten Canadian oil sands, prompts evacuations
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,...
View ArticleConocoPhillips to acquire TotalEnergies 50% stake in Canadian oil sands field...
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...
View ArticleAlberta crude oil production falls to seven-year low amidst oil-sands mines...
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.
View ArticleCanadian oil-sands producers to raise production to fill Trans Mountain Pipeline
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...
View ArticleConocoPhillips sells new investment-grade bonds to fund Surmont oil-sands...
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.
View ArticleCanadian oil sands emissions hold steady as production rises
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.
View ArticleSuncor Energy boosts oil sands production with $1.5 billion TotalEnergies...
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.
View ArticleAlberta oil production rises to record that tops China’s output
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...
View ArticleCanada’s MEG Energy appoints oil sands industry’s first female CEO
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.
View ArticleSuncor, Fort McKay First Nation partner on prospective oil sands development...
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...
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