Oil Sands News

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Repsol Seeks Contract for Canadian Crude
Thursday, October 29, 2020The Spanish company has typically sourced heavy crude supplies from Latin America and has been the biggest buyer of Mexican crude in 2020.

Alberta Ends Oil Sands Production Experiment
Saturday, October 24, 2020Alberta's two-year experiment with OPEC-style crude production curbs is coming to an end.

Oil Sands Output Is Becoming More Valuable
Thursday, October 22, 2020Canadian oil prices are poised to strengthen next year, according to BMO Capital Markets.

Major Refiner to Buy Canadian Crude on Venezuela Concerns
Wednesday, September 30, 2020The owner of the world's largest refining complex has reportedly signed a deal to purchase 2 million barrels of heavy Canadian oil a month.

Oil Sands Producers Eye Rail Link for Asia Exports
Monday, September 28, 2020US President Donald Trump's decision to approve a rail link between Canada and Alaska could open up an export route to Asia for Alberta's struggling oil sands producers.

ExxonMobil Unit Shuts Oil Sands Mine After Pipeline Spill
Wednesday, September 02, 2020ExxonMobil's Imperial Oil shut down its oil-sands mine after a spill from a pipeline that supplies diluent to the operation.

Oil Companies Wonder If Looking for Oil Is Still Worth It
Monday, August 17, 2020As the coronavirus ravages economies and cripples demand, European oil majors have made some uncomfortable admissions in recent months.

Oil Sands Producer Eyes Hydrogen Exports
Thursday, August 13, 2020Alberta's advantage may lie in its abundant reserves of the very fuels that hydrogen is meant to replace.

Canada Oil Sands Output Poised for 41 Percent Increase
Thursday, August 06, 2020IHS Markit anticipates that Canada's oil sands production will grow by nearly 1.1 million bpd.

Biden Faces Union Pressure over Keystone XL
Wednesday, August 05, 2020Joe Biden has threatened to rip up Keystone XL permits even as he courts blue-collar workers.

Trump Admin Ups Keystone XL Limit by 29%
Thursday, July 30, 2020A new White House permit raises the cross-border shipping limit for the TC Energy oil pipeline from 590,000 to 760,000 barrels a day.

Total Takes $8.1B Impairment
Wednesday, July 29, 2020The bulk of the impairment -- about $7 billion -- applies to Canadian oil sands.

Canada Pipelines Have Capacity to Spare
Wednesday, July 22, 2020Canada's oil-sands producers are taking their time at restoring production.

Oil Sands Explorers Restoring Production
Wednesday, July 08, 2020At least 20 percent of shut-in Canadian production is being restored.

Global E+P Revenues to Fall by $1 Trillion
Thursday, April 30, 2020Global exploration and production revenues will fall by about $1 trillion this year, according to Rystad Energy.

Trump Eyes 10MMbpd Global Oil Cut
Friday, April 03, 2020President Donald Trump is trying to get the world to cut oil production by 10 million barrels a day in an effort to end a market-share war that sent crude prices plunging to the lowest levels in two decades.

Canadian Crude Costs More to Ship than Buy
Friday, March 27, 2020Canadian heavy crude has become so cheap that the cost of shipping it to refineries exceeds the value of the oil itself.

Saudi-Russia Oil Embargo Plea Looms Large
Friday, March 27, 2020Check out Rigzone's most-viewed articles from the past week that relate to the downstream sector.

Canada Is First Price-War Casualty
Thursday, March 19, 2020In the oil price war between Saudi Arabia and Russia, the first big victim is likely to be Canada.

Teck Pulls Oil-Sands Mine Project
Monday, February 24, 2020Teck Resources is pulling its application for a controversial new oil-sands mine in Alberta.

Oil Sands Spending Set for First Jump Since 2014 Crash
Thursday, January 30, 2020Capital spending in the the world's third-largest crude reserves is projected to rise $8.8 billion this year.

Keystone XL Inches Forward
Wednesday, January 15, 2020TC Energy Corp. plans to begin pre-construction work on the Keystone XL oil pipeline next month, moving the long-delayed project forward even as opponents continue to fight it in court.

Energy Hedge Fund Is Bullish on Canada
Friday, January 10, 2020After big wins shorting U.S. shale companies last year, one energy hedge fund is turning its sights on the beaten-down Canadian oil sector.

Canadian Crude-by-Rail Shipments to Spike
Thursday, December 19, 2019Crude-by-rail capacity in Alberta is expected to grow by 100,000 barrels a day in December.

Pipeline-Starved Canadian Energy Shines
Friday, December 13, 2019Canadian energy firms have quietly outperformed their U.S. counterparts this year.

Oil Sands Giants Restrain Spending
Tuesday, December 03, 2019Capital spending in Canada's oil-sands reserves look set to continue to dwindle.

Conoco's Move to Keep Canadian Synthetic Crude Under Fire
Tuesday, October 01, 2019ConocoPhillips's shift to a cheaper substitute to dilute the thick bitumen coming from its oil-sands operations may deal a blow to companies that turn heavy oil into more-valuable lighter grades.

Canada's Oil Industry Needs More Outlets
Friday, August 16, 2019Canada needs new outlets for its oil production, particularly with such stagnant domestic consumption.

Oil Sands Firms May Ship by Rail for Production Limit Increase
Tuesday, July 09, 2019Canada's oil sands producers are offering to commit to shipping a certain amount of their crude by rail in return for the Alberta government raising their production limits.

Some BP Oil Won't See Light of Day
Wednesday, July 03, 2019BP says some of its resources won't see the light of day.

Is the Canadian Oil Patch Nightmare Over?
Tuesday, June 04, 2019Energy executives are heartened by recent developments, but realize the industry's all-clear signal has yet to be sounded.

Canadian Oil Companies Investing Abroad at Record Levels
Thursday, May 30, 2019It's a bad sign for industries already struggling to attract capital.

CNR Closer to King of Oil Sands
Thursday, May 30, 2019Canadian Natural Resources can't yet claim the King of the Oil Sands status, but it's a lot closer to overtaking its rival Suncor Energy after buying a key Athabasca drilling site.

Texas Money Hits Canada Oil Patch Corner
Tuesday, May 28, 2019Texas money is flowing into a small corner of Canada's oil sands at a time when big international companies are pulling out.

Canada's Oil Patch Divided on Nixing Crude-by-rail Plan
Wednesday, April 17, 2019Some of Alberta Premier-Elect Jason Kenney's supporters say he should keep his predecessor's plan to increase the province's crude-by-rail capacity.

Alberta Learns Playing OPEC Isn't Easy
Friday, March 22, 2019Pipelines are full, but the cost of shipping oil by train to the U.S. means it's not competitive with supplies from shale or Mexico.

Canadian Gas Scrambles to Dodge Oil Sands Fate
Tuesday, March 19, 2019Canada's gas industry is working on a flurry of export and chemicals projects to avoid the same situation.

Exxon Hits the Brakes on $1.9B Project
Friday, March 15, 2019Exxon's Canadian subsidiary, Imperial Oil Ltd., was planning to bring the 75,000-barrel-a-day project online in 2022.

Pipeline Delays Halt Canada Oil Sands Growth
Wednesday, March 13, 2019Some oil sands producers are reconsidering oil sands expansions.

New Refinery Offsets CNRL's Pipe Woes
Friday, March 08, 2019CNRL says a refinery project and natural output declines should help prevent another crash in local oil prices.

Alberta Drillers Unfazed by Crude Glut
Thursday, March 07, 2019Some drillers are moving ahead in Canada's oil sands despite depressed prices last year and resulting production cuts.

Oil Sands Help Alberta Budget Through Pipeline Chaos
Wednesday, February 27, 2019A relentless increase in production from Alberta's oil sands and higher crude prices in the first half of the year are powering the province's budget through a pipeline shortage.

Devon Energy to Divest Barnett Shale, Canadian Oil Sands Assets
Wednesday, February 20, 2019In a move to becoming a U.S. oil growth business, Devon Energy's board of directors approved the company's separation of its Canadian oil sands and Barnett Shale assets.

Alberta Eyes $1.7 Billion Profit From Crude-by-Rail Project
Tuesday, February 19, 2019The deal between Canadian Pacific Railway and Canadian National Railway entails leasing 4,400 rail cars over three years.

Alberta Amends Oil Curtailment to Pacify Companies
Friday, February 01, 2019Since taking effect, the measure has reduced inventories by 5 million barrels.

Oil-Sands Companies Throw New Tech at Old Foe
Wednesday, January 23, 2019Canada's oil-sands companies have been ramping up efforts to get their peanut butter-like bitumen to flow through pipelines more easily and cheaply.

MEG to Cut Spending and Shuffle Board
Tuesday, January 22, 2019Fresh off defeating a hostile takeover bid, MEG Energy is slashing capital spending and reviewing the makeup of its board.

Canadian Oil Surge Fails to Lift Producers
Monday, January 21, 2019Alberta's crude curtailment plan has caused a dramatic rise in the price of heavy Canadian oil.

MEG Plans to Spend Less and Boost Oil Output
Friday, January 18, 2019MEG Energy Corp. looks to be on its own again after Husky Energy Inc. pulled its hostile bid for the Canadian oil-sands producer.

Oil Sands Rebound in 2019
Thursday, December 27, 2018The Canadian oil industry could be in for another turbulent year in 2019, depending on how some pivotal events pan out.