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Category: Tar Sands

Category:
  • Canada
  • Tar Sands

Destruction So Vast and Deep It Challenges the Existence of Land and People

Oil and gas companies like ExxonMobil and the Canadian giant Suncor have transformed Alberta’s tar sands—also called oil sands—into one of the world’s largest industrial developments, replacing Indigenous people’s traditional Continue Reading

Posted On : 22 Nov 2021 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Canada Could Boost Oil Pipeline Capacity As Soon As September

Canada’s oil sands producers may find welcome relief to years of pipeline capacity constraints when the first new pipeline in years could enter into service as early as next month. Continue Reading

Posted On : 18 Aug 2021 Published By : Tom Whipple
Category:
  • Canada
  • Pipelines
  • Tar Sands

First New Oil Sands Pipeline in Years Could Start Next Month

A key pipeline linking Canada’s oil sands to U.S. markets could start shipping crude as early as next month. Enbridge Inc.’s Line 3 oil pipeline from Alberta to Wisconsin could Continue Reading

Posted On : 14 Aug 2021 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Old, small and CO2-intense: why Canada’s highest-carbon oil sands sites keep pumping

In the shadow of Canada’s mega oil sands projects, smaller, technologically outdated facilities produce up to three times more emissions per barrel than the already high sector average- and rising Continue Reading

Posted On : 29 Jun 2021 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Canada’s Oil Sands Need More Than Just Profit To Survive

Canada’s biggest oil sands producers are generating billions more in free cash flow thanks to a faster-than-expected pandemic rebound, but their cautious approach to spending it is disappointing environment-minded investors. Continue Reading

Posted On : 2 Apr 2021 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands
  • USA

U.S. And Canada At Odds In Oil Sands Schism

As one of his first acts in office, President Biden revoked TC Energy Corp.’s (NYSE:TRP) license on the controversial Keystone XL pipeline project. The project ran into trouble soon after Continue Reading

Posted On : 23 Mar 2021 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Flooding Prompts Evacuation At Heart Of Canada’s Oil Sands

The Regional Municipality of Wood Buffalo, which includes Fort McMurray – the hub of Alberta’s oil sands business – has issued a mandatory evacuation order for all of downtown Fort Continue Reading

Posted On : 29 Apr 2020 Published By : Tom Whipple
Category:
  • Canada
  • Prices
  • Tar Sands

Canadian Oil Sands Per Barrel At $4.47, Now Cheaper Than 12-Pack Coke, $5.08

The collapse of global oil demand has impacted the price of Canadian Oil Sands to such a degree, the price of a barrel is now cheaper than a 12-pack of Continue Reading

Posted On : 18 Apr 2020 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

$5 Crude Could Put Canada’s Oil Sands Out Of Business

Over the last few weeks, the higher breakeven costs for oil and the lack of sufficient takeaway capacity has come back to haunt Canada’s oil patch. Two months ago, the Continue Reading

Posted On : 3 Apr 2020 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Massive New Mine Could Be Oil-Sands’ First Big Price War Victim

The last major oil-sands mine to start operating in northern Alberta could be Canada’s first big casualty of the Saudi-Russian price war and the Covid-19 pandemic. Teck Resources Ltd., one of Continue Reading

Posted On : 2 Apr 2020 Published By : Tom Whipple
Category:
  • Tar Sands

The Age Of Canada’s Huge Oil Sands Projects May Be Over

After Teck Resources canceled its oil sands project, even approved oil sands projects could be difficult for Canada’s companies to bring online in the short term until more pipeline capacity Continue Reading

Posted On : 3 Mar 2020 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Canceled Teck oil sands project underscores global climate-energy policy tension

Teck Resources Ltd’s surprise decision to cancel a planned C$20.6 billion ($15.6 billion) oil sands mine in northern Alberta, citing uncertainty about Canada’s climate policy, underscores a global struggle to Continue Reading

Posted On : 25 Feb 2020 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Teck Cancels $20 Billion Frontier Oil Sands Project

Teck Resources has withdrawn its application for a regulatory review of the Frontier oil sands project, the company said in a news release . “Investors and customers are increasingly looking Continue Reading

Posted On : 25 Feb 2020 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Canceled Teck oil sands mine extends uncertainty for Canadian upstream

 Teck Resources’ withdrawal of its application for the major Frontier oil sands mine in Alberta exacerbates uncertainty for the Canadian upstream as the country’s political leaders clash over climate goals Continue Reading

Posted On : 25 Feb 2020 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

$15 Billion Oil Sands Project Might Not Go Ahead Even If Trudeau Approves It

Teck Resources is uncertain it will go ahead with a planned oil sands project that is awaiting the approval of the federal Canadian government, the Canadian Press reports , citing Continue Reading

Posted On : 31 Jan 2020 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Is This The End Of Canada’s Oil Sands?

Another billion-dollar energy project is polarizing Canada once again, but this time, it’s got nothing to do with pipelines , or even LNG terminals . It’s the Frontier oil sands Continue Reading

Posted On : 30 Jan 2020 Published By : Tom Whipple
Category:
  • Tar Sands

Canadian oil sands production to be ~1M barrels higher by 2030 but with lower annual growth; boosted by deterioration in Venezuela

Canadian oil sands production is set to enter a period of slower annual production growth compared to previous years. Nevertheless, total production is expected to reach nearly four million barrels Continue Reading

Posted On : 7 Jun 2019 Published By : Tom Whipple
Category:
  • Tar Sands

Oil Sands Production To Hit 4 Million Bpd By 2030 |

Crude oil production from Canada’s oil sands could rise by a million barrels from today’s average daily rate to as much as 4 million bpd in 2030 despite a slowdown Continue Reading

Posted On : 7 Jun 2019 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Exxon Hits the Brakes on $1.9B Project

Exxon Mobil Corp. is delaying a C$2.6 billion ($1.9 billion) oil-sands project in Canada by at least a year as the nation’s energy industry grapples with a shortage of pipeline Continue Reading

Posted On : 16 Mar 2019 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Canada’s Oil Patch Divided As Alberta Eases Cuts

Alberta government’s decision to respond to the very low Canadian heavy oil prices with mandatory production cuts of 325,000 bpd has created a division among Canada’s oil industry. The government Continue Reading

Posted On : 4 Mar 2019 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Canada’s Suncor Energy Sets Oil Production Record In Q4

Canada’s biggest integrated oil and gas firm Suncor Energy said on Monday that its total upstream production set a quarterly record of 831,000 barrels of oil equivalent per day (boed) Continue Reading

Posted On : 8 Jan 2019 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Oil Sands Rebound in 2019

The Canadian oil industry could be in for another turbulent year in 2019, depending on how some pivotal events pan out.  Government-mandated production cuts and the potential startup of a key Continue Reading

Posted On : 28 Dec 2018 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Beginning of the End for Canada’s Tar Sands or Just a Blip?

Alberta’s tar sands are among the most carbon-intensive sources of oil. The Canadian province announced it would temporarily curtail oil production in 2019 in the face of a saturated market Continue Reading

Posted On : 7 Dec 2018 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Integrated strategy shields Suncor from record-high WCS crude discounts

Suncor had a record high production in Q3 of 744,000 b/d. The company had a realized price of $49/b for its bitumen. Suncor considers it viable to install coker at Continue Reading

Posted On : 2 Nov 2018 Published By : Tom Whipple
Category:
  • Tar Sands

Oil Investors Look To Utah For Long-Term Riches

The rise in oil prices has resulted in relentless drilling and booming production in the U.S. shale plays, and the Permian in West Texas is attracting the most drillers, analysts, Continue Reading

Posted On : 20 Jul 2018 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

IHS Markit Sees Canadian Oil Sands Growth Moderating After 2019

 Canadian oil sands production will rise more than half a million barrels per day in 2019 and growth will moderate thereafter, according to a forecast by data firm IHS Markit. Continue Reading

Posted On : 18 Jul 2018 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Syncrude Canada to cut August crude deliveries 35 pct after outage: sources

 Syncrude Canada on Friday told buyers it would cut crude deliveries in August by about 35 percent after an outage last month at its oil sands site in northern Alberta, Continue Reading

Posted On : 14 Jul 2018 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Suncor offers timeline for Syncrude restart

Canadian energy company Suncor said its Syncrude oil sands facility, crippled by a June power outage, will be back at full capacity by September. U.S. crude oil prices were supported Continue Reading

Posted On : 10 Jul 2018 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Syncrude site takes step toward restarting, but timetable unchanged

The Syncrude oil sands site in northern Alberta is commissioning its steam systems, taking an important step toward restarting, its majority owner Suncor Energy Inc ( SU.TO ) said on Continue Reading

Posted On : 5 Jul 2018 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Canada crude outage to tighten supplies, reduce oil flow to Cushing

A production problem at one of Canada’s largest oil sands facilities drove front-month U.S. crude futures to their steepest premium above second-month futures since 2014 on Monday. Canada is the Continue Reading

Posted On : 26 Jun 2018 Published By : Tom Whipple
Category:
  • Canada
  • Climate
  • Tar Sands

Canadian producer Suncor offers climate assurances

Canadian oil production from a facility in Alberta has the same greenhouse gas intensity as U.S. oil, the head of producer Suncor said. Suncor said it’s completed its $13 billion Continue Reading

Posted On : 9 Jun 2018 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Suncor Ramps Up Megaprojects as Refining Arm Protects Prices

Suncor Energy Inc. is barreling ahead on the ramp-ups of the Fort Hills and Hebron oil megaprojects as its refining operations protect it from the pipeline shortages and lower prices Continue Reading

Posted On : 3 May 2018 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Europe’s biggest bank retreats from the oilsands

Europe’s largest bank has joined the list of global investors retreating from new financial commitments in the fossil fuel industry, including investments in oil-rich Alberta. HSBC, whose global assets total Continue Reading

Posted On : 24 Apr 2018 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Disaster Hits Canada’s Oil Sands

Kinder Morgan said it would halt nearly all work on a pipeline project that is crucial to the entire Canadian oil sands industry, representing a huge blow to Alberta’s efforts Continue Reading

Posted On : 10 Apr 2018 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Canada Is Facing A Heavy Crude Crisis

Canada’s benchmark heavy crude oil widened its discount to WTI to the largest in six trading sessions on Thursday, as additional storage capacity in Alberta and data about lower crude-by-rail Continue Reading

Posted On : 17 Mar 2018 Published By : Tom Whipple
Category:
  • Tar Sands

Oil Sands Upgraders May Make a Comeback Amid Pipeline Crises

Turning Canada’s heavy oil sands into a more marketable kind of crude is making a comeback, or rather half a comeback. Alberta’s government’s C$1 billion dollar pledge ($780 million) will Continue Reading

Posted On : 13 Mar 2018 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Price rally spells fleeting relief for Canadian oil producers

Canadian heavy crude rallied to a two-month high relative to U.S. crude this week, offering some relief to oil producers in Alberta struggling with thin margins amid plentiful supply. The Continue Reading

Posted On : 17 Feb 2018 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Canada agrees to monitor oil sands impact

Monitoring the potential environmental impacts of oil sands development using the best available science is a Canadian priority, officials said. A federal report from 2015 finds there to be consistent Continue Reading

Posted On : 23 Dec 2017 Published By : Tom Whipple
Category:
  • Tar Sands

Oil Major: 70% Of Crude Can Be Left In The Ground | OilPrice.com

Canada’s oil sands are too dirty to be produced, and should probably stay in the ground. That has long been the sentiment of environmental groups, but it is also gaining acceptance Continue Reading

Posted On : 25 Nov 2017 Published By : Tom Whipple
Category:
  • Tar Sands

Canada’s oil sands survive, but can’t thrive in a $50 oil world

Canada’s oil sands producers are stuck in a rut. The nation’s oil firms are retrenching, with large producers planning little or no further expansion and some smaller projects struggling even Continue Reading

Posted On : 18 Oct 2017 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

The oilsands at 50: How much life is left in the resource?

On Sept. 30, 1967, the Great Canadian Oil Sands facility opened north of Fort McMurray, Alta., with much fanfare, bunting and speeches by politicians. It was the first large-scale commercial Continue Reading

Posted On : 30 Sep 2017 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Alberta anticipates oil sands production boom

Through one of the largest investments in provincial history, expansions to an oil sands project in Alberta triggers big gains in output, its premier said. Alberta Premier Rachel Notley was Continue Reading

Posted On : 15 Sep 2017 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Heavy grades slip as traders eye Gulf Coast shutdowns

Canadian heavy crude differentials widened on Monday in quiet trade as some market players anticipated refinery shutdowns in the storm-hit U.S. Gulf Coast region backing up crude supplies in Canada. Continue Reading

Posted On : 29 Aug 2017 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Canadian oil sands producers: Heady days may not last long

Canadian oil sands producers such as Cenovus and MEG Energy impressed investors in the second quarter as prices of heavy crude rose, but those gains are expected to be short-lived. Continue Reading

Posted On : 22 Aug 2017 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Canadian heavy oil plugs gap left by OPEC, Latam

Canada’s struggling oil market has found something of a lifeline as traders scramble for heavy crude due to OPEC production cuts and sinking Latin American output. Output has fallen in Continue Reading

Posted On : 31 Jul 2017 Published By : Tom Whipple
Category:
  • Tar Sands

Investors Benefit In Surprise Move From Canadian Oil Major

While many oil companies doubled down on debt to maintain or even increase dividends while profits were hard to come by in the ‘lower-for-longer’ oil price world, Canada’s biggest oil Continue Reading

Posted On : 6 Jul 2017 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

The End of Growth in the Tar Sands. So Now What?

A managed decline of the tar sands isn’t a popular idea in Alberta, or in Canada for that matter. The idea of sunsetting the tar sands industry is about as Continue Reading

Posted On : 5 Jul 2017 Published By : Tom Whipple
Category:
  • Canada
  • Pipelines
  • Tar Sands

Pipeline Pinch Adds to Oil-Sands Woes as Keystone Wait Drags

Producers have little choice but to move those extra barrels by train, with costs two to three times higher than pipeline shipping. (Bloomberg) — Call it the pipeline pinch, or Continue Reading

Posted On : 29 Jun 2017 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Innovators toil to revive Canada oil sands as majors exit

In the boreal forests and on the remote prairies of Alberta, a handful of firms are running pilot projects they hope will end a two-decade drought in innovation and stem Continue Reading

Posted On : 19 Jun 2017 Published By : Tom Whipple
Category:
  • Canada
  • Tar Sands

Oil Sands Output Growth Second Only To Shale

Canada’s Mordor, as environmentalists like to call the oil sands, is notorious for how “dirty” oil extraction is there. It’s also notorious for how expensive it is to extract. The Continue Reading

Posted On : 19 Jun 2017 Published By : Tom Whipple

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