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China’s CNOOC to acquire Canada-based Nexen for $15.1B; offshore oil and gas, oil sands, and shale gas

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CNOOC Limited—China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world—is acquiring all of the Common Shares of Canada-based energy company Nexen Inc. billion cash. The price represents a premium of.

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Utah Water Quality Board upholds issuance of permit for oil sands mine in Utah

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The Utah Water Quality Board, in a 9-2 vote this week, agreed with the August 2012 recommendations of an administrative law judge (ALJ) upholding a permit-by-rule issued by the Division of Water Quality (DWQ) for the proposed PR Spring an oil sands mine on state land in eastern Utah. Source: USOS, DWQ. Click to enlarge.

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Researchers identify for first time individual naphthenic acids in oil sands process water

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A team from the University of Plymouth (UK) and Environment Canada has identified, for the first time, individual soluble naphthenic acids (NA) in the process water resulting from the oil sands industry in Canada. Frank (2011) Diamonds in the Rough: Identification of Individual Naphthenic Acids in Oil Sands Process Water.

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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

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SOLVE adds a solvent to the steam in SAGD (basic operation depicted above) to reduce energy input and water consumption. The production well extracts the bitumen to surface heavy oil production facilities. SAGD is the predominant in-situ recovery method currently used in Canada’s oil sands. Source: StatoilHydro.

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New study finds GHG emissions from palm oil production significantly underestimated; palm oil biofuels could be more climate-damaging than oil sands fuels

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The majority (62%) of the plantations were located on the island of Sumatra, and more than two-thirds (69%) of all industrial plantations were developed for oil palm cultivation, with the remainder mostly being Acacia plantations for paper pulp production. —Miettinen et al. Earlier post.).

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Athabasca Oil Sands sells remainder of interest in MacKay River oil sands project to PetroChina for C$680M; PetroChina to be full owner of project

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Athabasca Oil Sands Corp. has exercised its option to divest its 40% interest in the MacKay River oil sands project to Cretaceous Oilsands Holdings Limited, a wholly owned subsidiary of PetroChina International Investment Limited, for C$680 million (US$672 million) in cash. Earlier post.) Earlier post.). Earlier post.).

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Alberta approves Cenovus Narrows Lake oil sands project with demo and phase-in of solvent aided process to improve steam-oil ratio and production rate

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to proceed with its Narrows Lake oil sands project, with an ultimate gross production capacity of 130,000 barrels per day. SAP combines steam injection with solvents, such as butane, to help bring the oil to the surface. Cenovus also anticipates that SAP may increase total oil recovery by as much as 15%. Earlier post.).

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