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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. It is the second-largest oil producer in the UK North Sea.

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Details on how Enbridge will expand capacity of Alberta Clipper oil sands crude pipeline without US review

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million barrels per day of crude oil and liquids. The Enbridge Mainline system is the largest conduit of oil into the United States. Enbridge transports 53% of US-bound Canadian production, a figure that accounts for approximately 15% of total US crude oil imports. km) south of the US-Canada border for delivery to Superior.

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New advisory body to coordinate transportation planning in Athabasca oil sands region

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A new advisory committee will review and will make recommendations to the Alberta, Canada government on the current and future transportation needs of the Athabasca oil sands region.

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

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Suncor is targeting 1 million barrels per day output in 2020, with its growth in the oil sands underpinned by its alliance with Total. Canada-based Suncor Energy Inc., Approximately 80% of that production will be from the oil sands. Click to enlarge.

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NRC report finds transporting diluted oil sands bitumen through pipelines does not increase likelihood of release

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Diluted bitumen has no greater likelihood of accidental pipeline release than other crude oils, according to a new report from the National Research Council (NRC). The NRC committee was not asked to address whether the consequences of a diluted bitumen release differ from those of other crude oils. Earlier post.).

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

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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. MEG intends to invest $40 to $50 million on maintenance and sustaining.

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Lux forecasts upstream oil and gas spending on health, safety and environment to grow from $35B today to $56B by 2030

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Lux Research forecasts that, with regulatory scrutiny of increasingly demanding oil and gas projects set to rise, spending on health, safety and environment (HSE) will grow from $35 billion today to $56 billion by 2030.