March 2010
Late in January 2010, ConocoPhillips and Total announced the sanction of an 83,000-barrel-per-day expansion of the Surmont in situ project, followed in short order by Husky Energy's news that it expects this year to go ahead with the first 60,000-barrel-per-day phase of the Sunrise in situ project, and Canadian Natural's notice that it plans the same for its next in situ project, the 45,000-barrel-per-day Kirby installation. Canadian Natural also expects to sanction the next phase of its Horizon integrated mining and upgrading project in 2010. Despite Shell's announcement that it will slow down on the oilsands, the industry appears to be gathering steam.
Moving Alberta oilsands crude oil to Asian and western U.S. markets via the Pacific is a crucial part of the future of the Canadian oil industry, says the head of the group representing the pipeline sector.
At some point this year, Idaho and Montana drivers are probably going to get a bit of a surprise, and a better understanding of what “big” really means when one is talking about Alberta’s oilsands industry. Residents may have read about it in newspapers or even participated in the community consultations, but to actually witness the massive modules headed to Imperial Oil’s Kearl oilsands project crawling down their roads is sure to be an event to remember.
Employers that dole out hefty bonuses to high performers may be shooting themselves in the foot—a new Mercer study of western Canada’s energy workforce shows that a large bonus may actually send the employee packing for another company.
Oilsands companies looking for financing know TD Securities very well. Over the last 10 years, the firm has been a leader in raising equity and debt capital for oilsands companies and advising them on mergers and acquisitions (M&A). Robert Mason joined the company’s oilsands group in 2000 and now leads it. Recently he sat down with Oilsands Review to talk about what the sector can expect in the near term.