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

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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. Visualization of bitumen resource (in green) at KKD.

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Canada Minister of Natural Resources emphasizes key role of oil sands in the country’s energy future

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Speaking at the at the University of Toronto’s Hart House Alumni Dinner Series, Canada Minister of Natural Resources, Joe Oliver, emphasized the pivotal role that Canada’s oil sands will continue to play in the country’s energy future.

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Shell secures C$865M funding for Canadian CO2 storage project; >1M tonnes/yr from oil sands

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The carbon capture process at the Scotford oil sands upgrader will capture about 35% of emissions. miles) underground into the deepest saline aquifer formation in Alberta (the Basal Cambrian Sands) beneath several layers of impermeable rock. —John Abbott, Shell’s Executive Vice President of Heavy Oil. Resources.

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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. 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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US State Department Issues Permit for Alberta Clipper Pipeline for Oil Sands Crude Delivery to US

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The US State Department has issued a Presidential Permit to Enbridge Energy, Limited Partnership to enable construction of the Alberta Clipper pipeline for the transport of crude oil from the Canadian oil sands to US refineries. This week, the RFA happened to issue two pieces, each touching on the impact of oil sands production.

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USGS new estimates of global undiscovered, technically recoverable conventional oil and natural gas, excluding US

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USGS is the only provider of publicly available estimates of undiscovered technically recoverable oil and gas resources of the world. These new estimates are for conventional oil and gas resources only. These estimates include resources beneath both onshore and offshore areas.

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Marathon Oil splitting in two

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The Board of Directors of Marathon Oil Corporation has approved moving forward with plans to spin off Marathon’s downstream business, creating two independent energy companies. Marathon Oil Corporation (MRO) will be a global upstream company based in Houston, Texas.

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