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OIL SANDS: Fort McMurray lost Oil Sands production could reach $1.4 billion
Analysts say lost oilsands production from the Fort McMurray wildfire could top 30 million barrels and cost the industry upwards of $1.4-billion. Some of the largest oilsands producers in the province were forced to shut down or curtail operations last…
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OIL SANDS: COSL rallies against Suncor takeover bid
CALGARY – Canadian Oil Sands Ltd. has adopted a shareholders rights plan to fend off the hostile takeover bid by Suncor Energy. Earlier this week, Suncor offer to buy up all COSL shares and assume its debt in a deal worth $6.6 billion.
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OIL SANDS: Suncor makes $6.6B bid for Canadian Oil Sands Limited
CALGARY – Suncor Energy has made an unsolicited, $6.6-billion takeover bid for Canadian Oil Sands Ltd. COSL shareholders would receive 0.25 of a Suncor share for each outstanding COSL share, an offer worth $4.3 billion. Suncor would also…
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MINERAL SANDS: Titanium Corp., Syncrude strike patent and production deal
ALBERTA – Titanium Corp. and Syncrude Canada, both of Calgary, have arranged co-ownership of one of Titanium’s patents and the first right for Titanium to propose commercial recovery of heavy minerals at Syncrude site.
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OIL SANDS: Total E&P sells part of Fort Hills interest to Suncor
ALBERTA – Total E&P, an arm of the French petroleum producer, has agreed to sell a 10% working interest in the Fort Hills oil sands project to Suncor Energy of Calgary for a reported $310 million. The $15-billion project 90 km north…
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OIL SANDS: Herons dead at Syncrude site
ALBERTA – The Alberta Energy Regulator issued an environmental protection order to Syncrude Canada on Aug. 11 after 29 blue herons were found dead at the company’s Mildred Lake site near Fort McMurray.
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OIL SANDS: Suncor pumps up bitumen numbers in Q2
ALBERTA – Suncor Energy, headquartered in Calgary, generated cash flows in excess of $2.1 billion in Q2 2015, despite the recent drop in crude oil prices. Earnings were in the black, too. The operating figure was $906 million ($0.63 per…
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OIL SANDS: Suncor to test in situ RF recovery without steam
ALBERTA – Suncor Energy of Calgary plans to test a means of in situ bitumen recovery using radio frequency (RF) waves rather than steam. The new technology will be tested at the Dover site, north of Fort McMurray.
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OIL SANDS: Teck pushes Frontier start-up to 2026
ALBERTA – Vancouver’s Teck Resources may be most famous for its base metals and coal production, but for several years now the company has had its toe in the waters of the oil sands. It is a 20% partner in the Fort Hills project where…
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OIL SANDS: Kearl expansion on line ahead of schedule
ALBERTA – The start-up of the Kearl oil sands expansion 70 km north of Fort McMurray is underway and ahead of schedule. Output will eventually reach 110,000 bbl/day, bringing total output up to 220,000 bbl/day. Production originally began…
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OIL SANDS: Environmental improvement report tabled
OTTAWA – The Council of Canadian Academies (www.ScienceAdvice.ca) has released a new report on mitigating the environmental impact of Alberta’s oil sands. The report says short to medium term technologies can reduce the footprint on a per…
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OIL SANDS: Alberta government charts tailings management framework
ALBERTA – The Government of Alberta approved an environmental plan for the Lower Athabasca Region in 2012, and has now issued the companion document, Tailings Management Framework for the Mineable Athabasca Oil Sands. The goal is to allow…