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Statoil postponing Corner oil sands project for minimum of 3 years; rising costs, limited pipeline access

Green Car Congress

Statoil will postpone the previously planned Corner field development at the Kai Kos Dehseh (KKD) oil sands project in Alberta, Canada, for a minimum of three years, due in part to rising labor and materials costs and market access issues including limited pipeline access. —Statoil Canada country manager Ståle Tungesvik.

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ACL to begin transporting Canadian crude by inland barge to Gulf Coast for oil sands company MEG Energy

Green Car Congress

American Commercial Lines (ACL) will begin transporting crude oil by barge on the US inland waterways for MEG Energy (US) Inc. MEG Energy), a subsidiary of the Canadian oil sands company MEG Energy Corp. a subsidiary of Exxon Mobil Corporation, to expand its fleet of 325 tank barges to meet mid-range demands.

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Suncor targeting 1M barrels per day by 2020, some 80% from oil sands; new strategic alliance with Total

Green Car Congress

Suncor is targeting 1 million barrels per day output in 2020, with its growth in the oil sands underpinned by its alliance with Total. Approximately 80% of that production will be from the oil sands. The agreement with Total is an important element of Suncor’s plans to more than double our oil sands production.

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Alberta CCEMC providing $46M for carbon capture and storage and cleaner energy projects in oil sands region

Green Car Congress

Alberta, Canada’s Climate Change and Emissions Management (CCEMC) Corporation is providing C$46 million (US$45 million) in funding to support six new carbon capture and storage and cleaner technology projects in the Canadian oil sands region. Imperial Oil: $10 million for a Cyclic Solvent Process pilot in Cold Lake.

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Sustainable Development Canada Awards C$6M to Project to Reduce Water and Energy Consumption for Oil Sands Processing; Three Other Projects Supported to Reduce Energy and Environmental Impact of Oil Sands

Green Car Congress

million) to the Petroleum Technology Research Centre ( PTRC ) in Regina, Saskatchewan and StatoilHydro Canada for a project to reduce water use and carbon dioxide (CO 2 ) emissions for in situ oil sands recovery by steam-assisted gravity drainage (SAGD). Water use and CO 2 emissions are major challenges for the oil sand industry.

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MEG Energy moving ahead with 35,000 barrels per day oil sands expansion; $1.4B estimated total cost

Green Car Congress

Canada-based MEG Energy’s board of directors has approved 2011 capital investment of approximately $900 million and the final cost estimate for the 35,000 barrels per day Phase 2B oil sands expansion at the Christina Lake in-situ project. The 2011 budget includes $80 to $90 million for core drilling and seismic.

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Osum Oil Sands closes $500M private placement; new investors include government of Singapore

Green Car Congress

Canada-based Osum Oil Sands Corp. billion barrels (net) of Best Estimate Contingent Resources through both acquisitions and additional geological and reservoir work in 2011. billion barrels (net) of Best Estimate Contingent Resources through both acquisitions and additional geological and reservoir work in 2011.

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