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Imperial Oil approves $2B in situ oil sands expansion project

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Imperial Oil Limited has approved a $2 billion expansion of the company’s Cold Lake in situ oil sands operation in northeastern Alberta. Imperial received original regulatory approvals for Nabiye in 2004. The operation produced an average of 160,000 barrels of bitumen per day in 2011.

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Argentina and Venezuela to cooperate in $2.2B 100,000 bpd extra-heavy oil joint venture in Orinoco Belt

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Argentina and Venezuela will form a joint venture targeting production of 100,000 barrels of extra-heavy oil per day in the Junin field area of the Orinoco Oil Belt. The US Geological Survey (USGS) characterizes extra-heavy oil as having an API gravity of less than 10°. billion project will also include a refinery. Source: EIA.

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Devil in the Details: World Leaders Scramble To Salvage and Shape Copenhagens UNFCCC Climate Summit

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July, 2009 : A NASA satellite study found that Arctic sea ice had thinned dramatically between the winters of 2004 and 2008, with thin seasonal ice replacing thick older ice as the dominant type for the first time on record ( earlier post ). Canada’s 2009 GHG emissions are 48.7% Canada’s 2009 GHG emissions are 48.7%

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US State Department issues Presidential Permit to TransCanada for Keystone XL

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The permit authorizes TransCanada to construct, to connect, to operate, and to maintain pipeline facilities at the US-Canadian border in Phillips County, Montana for the importation of crude oil. Keystone’s first application for the Keystone XL pipeline was submitted on 19 September 2008, and a Final EIS was published on 26 August 2011.