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Tag Archives: oilsands

Oilsands producers hoping for ‘clean oil’ tag after backing climate policies: Murray Edwards

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LAKE LOUISE — Billionaire oil investor Murray Edwards said Canadian oilsands producers took the “bold step” of backing Alberta’s aggressive climate change plan to help change perceptions that Canada’s oil is dirty. Edwards, the chairman and a top shareholder of Canadian Natural Resources Ltd., along with leaders of Suncor Energy …

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Cenovus Energy Inc not impacted by oilsands’ emissions cap, CEO Brian Ferguson says

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A new hard cap on greenhouse gas emissions in the oilsands won’t impact Cenovus Energy Inc.’s growth plans, president and CEO Brian Ferguson said Thursday. 'Group of four doesn't speak for the industry': Backlash grows against secret carbon deal Claudia Cattaneo: It’s becoming increasingly clear that hell will freeze over …

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Stranded barrels in the oilsands: How carbon curbs will stunt growth in Canada’s oilpatch

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Canadian oilsands producers like Suncor Energy Inc. like to tout the long life of the world’s third-largest crude reserves as their greatest asset. That longevity may now be their biggest liability with a new global agreement to curtail carbon emissions. Secret deal on carbon emissions has driven a rift through …

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Costs to produce crude in oilsands finally drop after 15 years of sharp inflation

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CALGARY – After a 15-year period of sharp and continuous inflation, the cost to produce crude from northern Alberta’s oilsands dropped this year, according to a new report from IHS Energy. “Costs will continue to come down, but that’s true of all sources of (oil) supply in the world and …

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At $22, three quarters of oilsands production is underwater and losing up to $3 on every barrel

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CALGARY — U.S. crude’s slide to US$35 a barrel this week has left many Canadian oilsands producers selling their oil at a loss, with some analysts predicting even more pain in 2016. Never mind $35 a barrel, Canada’s oil is selling for closer to $20 As oil crashes through $35 …

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Oilsands firms may be forced to cut production as danger of negative bitumen prices looms

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CALGARY – Crude oil prices have fallen so low that oilsands producers are now in danger of seeing negative prices for their bitumen. After the bust, oil boomtown Fort McMurray faces threat of ‘shrinking city’ syndrome Alberta’s oil hub Fort McMurray is learning the hard way that there is no …

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As oilsands punished, tanker loads of cheap Saudi oil sail into Canadian ports daily

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As federal and provincial politicians pat themselves on the back for their climate change ‘leadership,’ and pipeline opponents gloat about stalling construction of new Canadian pipelines, tanker-loads of foreign oil are delivered regularly to Eastern Canadian refineries, including increasing volumes from Saudi Arabia. What rising tensions between OPEC kingpin Saudi …

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Oilsands construction workforce to plunge 84% by 2020, report says

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The oilsands sector is in danger of losing its reputation as a job-creating machine. How the Trudeau government is helping Saudi Arabia's scheme to sideline Canadian oil Allan Richarz: By tightening the screws on domestic production while seeing an increase in Saudi-originating imports, we are helping accelerate our own energy …

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Not enough reporting, analysis of oilsands environmental data, scientists say

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CALGARY – The Alberta and federal governments have collected vast quantities of data on air and water quality in the oilsands, but have regularly failed to analyze, interpret and report on that data. A study released Monday criticized the Joint Oil Sands Monitoring initiative, a team effort by environmental agencies …

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Claudia Cattaneo: Get used to it, the oilsands are unstoppable

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Canada’s oilsands have been battered badly by low oil prices, adverse government policies and transportation constraints, but production is continuing and growth looks unstoppable until the end of the decade, according to two new reports. Cut costs, borrow cash or liquidate: Saudis deliver harsh message to other oil producers Saudi …

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