Source: Alexandra Mae Jones, ctvnews.ca February 24, 2020 The Frontier project was slated for 2026, and would have produced more than 250,000 barrels of oil each day, amounting to roughly four million tonnes of greenhouse gas emissions every year of its production. TORONTO — Vancouver-based Teck Resources Ltd. has announced that it is withdrawing the… Continue reading Vancouver-based Teck Resources withdraws from major Alberta oilsands project
Tag: oil sands
Cenovus reports $241 million third quarter loss, lowers capex guidance
Source: The Canadian Press, October 31, 2018 Cenovus Energy Inc. reported a loss of $241 million in its latest quarter as the company continued to focus on reducing debt. The oil sands company says the loss amounted to 20 cents per share for the quarter ended Sept. 30 compared with a loss of $82 million… Continue reading Cenovus reports $241 million third quarter loss, lowers capex guidance
After a drought, signs of new growth in the oilsands
By Tracy Johnson, CBC News, June 1, 2016 MEG Energy applies for new oilsands project In March, with oil prices skidding under $40 US a barrel, MEG Energy quietly published a notice of its application to build a new oilsands project south of Fort McMurray. The May River project isn’t huge — it will top out at approximately… Continue reading After a drought, signs of new growth in the oilsands
Suncor Energy resumes operations near Fort McMurray after mandatory evacuation lifted
By CBC News, May 29, 2016 Initial operations started at Firebag in situ facility Suncor Energy will resume operations near Fort McMurray two weeks after an approaching wildfire forced workers to evacuate its camps. “The safe and staged restart” started early last week at the company’s Firebag facility, around 120 km northeast of Fort McMurray, Suncor said… Continue reading Suncor Energy resumes operations near Fort McMurray after mandatory evacuation lifted
Oil dips after hitting ‘psychological barrier’ of US$50 a barrel
By Karolin Schaps and Ron Bousso, Reuters, May 26, 2016 NEW YORK — Oil prices hit US$50 a barrel on Thursday for the first time in seven months, then bounced below that level and settled lower on the day as investors worried robust price gains could encourage more output and add to the global glut.… Continue reading Oil dips after hitting ‘psychological barrier’ of US$50 a barrel
WTI price briefly back above $50 US for 1st time since October
By CBC News, May 26, 2016 Crude price has rallied after a series of production cuts including Fort McMurray The price of a barrel of the North American oil benchmark briefly touched $50 US for the first time since October. A barrel of West Texas Intermediate was changing hands at $50.03 early Thursday, up 47 cents… Continue reading WTI price briefly back above $50 US for 1st time since October
Oil touches $48 as Fort McMurray fire evacuations add to global supply disruption
By CBC News, May 17, 2016 Slowdowns in Canada’s oilsands combine with shutdowns in Nigeria and Venezuela to limit supply The price of oil has risen to a six-month high to above $48 US a barrel due to a series of supply disruptions around the world. After the worst of the Fort McMurray fire appeared to… Continue reading Oil touches $48 as Fort McMurray fire evacuations add to global supply disruption
IEA forecast sees oil glut coming to an end soon
By Thomson Reuters, May 13, 2016 Iran has ramped up production quickly but the IEA still says the oil market is close to coming back into balance. The International Energy Agency said Thursday that higher than expected Iranian oil production has helped stabilize the global oil market by offsetting concerns generated by wildfires in Canada… Continue reading IEA forecast sees oil glut coming to an end soon
Oil prices jump as Fort McMurray wildfire slows down oilsands production
By Tracy Johnson, CBC News, May 5, 2016 What’s the impact on the oil market? And on the workers? The price of crude is rising today as the wildfire in Fort McMurray, Alta., slows oilsands production. The Wood Buffalo region of Alberta is the economic heart of the province, and key to world oil markets. It… Continue reading Oil prices jump as Fort McMurray wildfire slows down oilsands production
Suncor snags majority control of Syncrude with $937M Murphy Oil deal
By The Canadian Press, CBC News, April 27, 2016 Deal will increase Suncor’s interest in Syncrude to nearly 54% Suncor Energy is buying another chunk of Syncrude in a $937-million deal that will give it majority control over the massive oilsands project. The Calgary-based energy giant said Wednesday it has reached a deal to buy… Continue reading Suncor snags majority control of Syncrude with $937M Murphy Oil deal