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Chinas CNOOC to acquire Canadian oil sands producer OPTI for $2.1B

Green Car Congress

an indirect wholly-owned subsidiary of CNOOC, will acquire oil sands producer OPTI Canada Inc for approximately US$2.1 The principal asset of OPTI consists of a 35% working interest in the Long Lake and three other oil sands project areas located in the Athabasca region of northeastern Alberta. CNOOC Luxembourg S.a

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

Green Car Congress

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. USOS bitumen extraction process. Source: USOS.

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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. has entered into definitive agreements with a group of investors to issue, on a private placement basis, $500 million in equity securities. McCarthy Tetrault LLP acted as Canadian legal counsel while Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as United States legal counsel to Osum.

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Sunshine Oilsands Ltd. and China Oilfield Services Ltd. intend to cooperate on oilsands technology; possible testing of new thermal recovery technique

Green Car Congress

COSL is a majority owned subsidiary of Chinese state-owned company CNOOC Group. The MOU is not legally binding except for those provisions in respect of exclusivity, confidentiality and dispute resolution. is one of the largest non-partnered holders of oil sands leases by area in the Athabasca oil sands region.

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BMW M introduces its first high-performance car with electrified drive system: BMW XM PHEV

Green Car Congress

Production of the BMW XM will get underway at BMW Group Plant Spartanburg in the USA in December 2022 before it arrives at dealers worldwide in spring 2023. liter unit features a cross-bank exhaust manifold and an optimized oil separation process. kWh/100 km in the WLTP cycle; and CO 2 emissions of 36 – 33 g/km in the WLTP cycle.

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Federal Judge rules California Low Carbon Fuel Standard violates Commerce Clause of US Constitution

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With its original filing, the groups noted: The LCFS imposes excessive burdens on the entire domestic ethanol industry while providing no benefit to Californians. They asserted that the LCFS violated the Commerce Clause by seeking to regulate farming and ethanol production practices in other states.

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Refiners and Truckers Associations Challenge California LCFS in Federal Court

Green Car Congress

The National Petrochemical & Refiners Association (NPRA) filed a legal challenge to California’s Low Carbon Fuel Standard (LCFS) with the US District Court, Eastern District of California, Fresno Division. Earlier post.). By regulating the fuel pathway of transportation fuels—i.e., NPRA President Charles T.