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The failure of the Keystone XL pipeline expansion to the U.S. Gulf Coast to obtain approval—yet again—from the U.S. State Department in November 2011 set off a flurry of strategic pipeline announcements aimed at draining the growing oil glut in U.S. Midwest storage facilities. A new front-runner in the race to get Canadian oilsands production to underutilized Texas Gulf Coast refiners is now Enbridge Inc.
Bitumen-bashers really have no idea of the heartfelt effort industry members pour into continuous improvement in the standards of practice for producing the oilsands.
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January 27, 2012
Sunshine Oil Sands Ltd. says it might go public after receiving Alberta Energy Resources Conservation Board approval for the first phase of the West Ells oilsands project and needing about $500 million to build it, hopefully by raising around that amount in an initial public offering.
January 26, 2012
Federal Environment Minister Peter Kent this morning said new federal-provincial environmental oilsands monitoring program will be rolled out "in the very next few months."
Editor’s Blog
Imperial Oil is steadily moving closer to its goal of 345,000 barrels per day from its Kearl oilsands mine, despite the fact that first volumes have yet to flow. In late December the company sanctioned the 110,000 barrel per day expansion to the Kearl project. Construction on the 110,000 barrel per day Phase 1 is [...]
Oilpatch Marketplace
Oilsands Prices
Close Last Trade Day (Canadian Dollars)
Flint Hills/Cold Lake $83.75 BBL
Flint Hills/Sweet Synthetic $103.61 BBL
Flint Hills/Western Canadian Select $86.92 BBL
Posted Canadian Par Average (40 API) $95.47 BBL
AECO/NGX Spot Price $2.300 GJ
JuneWarren-Nickle's Energy Group