Chief financial officer takes helm of Sunshine Oilsands
Sunshine Oilsands has appointed a new chief financial officer to its team.
Canada
Hilcorp lodges plans for man made island
A US company has proposed building an artificial island to drill for oil off Alaska’s coast. Hilcorp Alaska has filed a development and production plan with the US Bureau of Ocean Energy Management (BOEM).
Sunshine Oilsands starts production from West Ells project
Sunshine Oilsands said it has commenced first oil production from West Ells project in Alberta. The region covers around 9,856hectares and is located within the Athabasca oil sands region close to a number of other oil companies.
Protesters force Enbridge to shut Canadian pipeline
Enbridge Inc has shut down a crude oil pipeline after protestors locked themselves to equipment at a valve site in Quebec. The Line 9 crude oil pipeline produces around 300,000 barrels per day.
Canadian Oil Sands sets 2016 capex budget 35% lower than 2015
Canadian Oil Sands Ltd set a capital expenditure target of C$295 million ($221 million) for 2016, down about 35% from the estimated budget for 2015, saying the Syncrude oil sands project would help raise output at lower costs.
Suncor may scrap oil sands bid if $4.5billion offer delayed
Suncor said it may scrap its $4.5 billion hostile bid for Canadian Oil Sands if Alberta regulators endorse a poison pill that would give the target company more time to find other bidders.
Canadian Oil Sands seeks white knight as Suncor closes in on bid
Suncor Energy's battle for Canadian Oil Sands Ltd. is getting more crowded.
Amec FW radiation equipment used in Canadian clean up
Amec Foster Wheeler will use its radiation survey equipment to support the clean-up of approximately 1.2 million cubic metres of historic low-level radioactive waste from various sites in Southern Ontario, Canada.
Husky presses ahead with heavy oil development
Husky Energy has sanctioned a new 10,000 barrels per day heavy oil thermal development in Saskatchewan, Canada.
Shell Canada president to step down from role
The boss of Shell’s Canadian operation will step down from her role by the end of the year. Lorraine Mitchelmore has held the role of president for the company’s operations in the country for the past six years.
Statoil wins new licences offshore Canada
Statoil has made a successful bid for new licence offshore Canada. The Norwegian operator and its partners were the winning bidders for six exploration licences in the Flemish Pass Basin, offshore Newfoundland, and two licence offshore Nova Scotia. The company will operate five licences and also participate in one licence as a partner.
Suncor to Canadian oil sands holders: hope ‘not a strategy’
Suncor Energy Inc. wants shareholders of Canadian Oil Sands Ltd. to weigh its C$4.7 billion ($3.5 billion) takeover offer closely and reject a strategy that relies on the “hope” of better performance. Suncor appealed directly to Canadian Oil Sands shareholders in a letter Thursday after two offers earlier this year were rejected and last month’s hostile bid was met with a poison-pill defense put up by its management and board. Suncor says it will devote more resources to fixing an oil-sands mining project co- owned by seven companies after it boosts its stake to 49 percent from 12 percent by taking over Canadian Oil Sands, the largest shareholder. The battle over Canadian Oil Sands and its ownership of the bitumen mining operator Syncrude comes as the industry struggles with low oil prices that make most expansions too costly, and even some existing production unprofitable.
Offshore worker facing drug charges
An offshore worker could face drug charges after allegedly being found in possession of illegal substances on the SeaRose FPSO. According to reports the Combined Forces Special Enforcement Unit in Newfoundland and Labrador received a complaint earlier this month from Husky Energy after a worker was suspected of being in possession of MDMA. A man was allegedly found to be in possession of pills in a prescription bottle that did not match the prescription label.
Penn West sells Canadian assets for $398million
Penn West Petroleum has sold its non-operated 9.5% working interest in the Weyburn Unit in Southeast Saskatchewan for $205million.
Shell opens landmark Quest CCS project in Canada
Oil major Shell has opened a landmark new CCS (Carbon Capture and Storage) project in Canada. The new Quest facility at the Athabasca Oil Sands project is designed to capture, transport and store more than one million tonnes of carbon dioxide CO2 each year. The amount is equivalent to the emissions from an estimated 250,000 cars.
Suncor Energy ramps up hostile $3.3billion bid for Canadian Oil Sands
Suncor Energy Inc. is stepping up its hostile $3.3 billion bid for Canadian Oil Sands Ltd. by asking Alberta regulators to strike down the target’s new shareholder rights plan aimed at preventing its takeover. The Alberta Securities Commission will hold a hearing on Nov. 26 to consider the so-called poison pill adopted by the Canadian Oil Sands board last month, Suncor said in a statement Friday. The hearing follows Suncor’s application for an order to cease the new rights plan. Canadian Oil Sands vowed to protect its shareholders. The Canadian Oil Sands shareholder plan calls for 120 days to consider bids. Because Suncor’s offer is open for acceptance only until Dec. 4, unless extended or withdrawn by Suncor, it would not be a permitted bid under the new plan, Canadian Oil Sands said last month.
Housing starts to fall in Canada on oil and supply, CMHC says
Canadian housing starts will decline in the next two years on a weaker economy and with builders seeking to avoid oversupply, the federal housing agency said. The pace of work on new homes will fall to 178,150 units in 2016 from 186,900 this year, Canada Mortgage & Housing Corp. said Monday from Ottawa, and again to 173,650 units in 2017.
White House to urge climate change action from Canada
The White House said the new Canadian Government could do more to address climate change ahead of international negotiations on the issue in Paris. The issue is a top priority for President Barack Obama in his last 15 months in office. A white House spokesman hinted climate change would form part of a phone call from Obama to the newly elected Prime Minister-designate Justin Trudeau.
Shareholders urged to reject bid by Suncor Energy
Canadian Oil Sands has asked its shareholders to reject an offer by Suncor Energy. The company said the bid “substantially undervalued” its ownership in Syncrude and was “entirely opportunistic”.
Canada factory sales fall 0.2% as auto gains curb oil drop
Canadian factory sales declined by 0.2 percent in August, and the first decline in four months was smaller than economists forecast with damage from falling energy prices curbed by gains for automakers. The decline followed two months of 1.7 percent increases, and lowered sales to C$52.1 billion ($40.4 billion) from C$52.2 billion, Statistics Canada reported Friday from Ottawa. Economists forecast August sales would decline by 1 percent according to the median of a Bloomberg survey with 18 responses.
Clough takes on Enercore in C$10million deal
Australian engineering services giant Clough, which provides procurement and construction services for Canadian oil and gas projects, has acquired Enercore - a privately owned engineering services company for C$10million
Petronas says it remains committed to Canadian LNG project
Malaysia's Petroliam Nasional Bhd (Petronas) PETR.UL said it is committed to its Canadian liquefied natural gas (LNG) project despite the tumble in oil and gas prices which has hurt the state-owned oil company's profitability. The project would see Petronas build an export terminal near the British Columbia port city of Prince Rupert, a natural gas pipeline and ongoing gas development. Petronas had reached a deal with British Columbia in May on the proposed project, drawing it closer to its final investment decision. "Petronas would like to reaffirm its commitment to deliver long term LNG supply to its customers through the Pacific NorthWest LNG project in Canada, despite the current market volatility for oil and gas," its chief executive officer for Upstream, Wee Yiaw Hin, said in an emailed statement.
Imperial and Husky create single truck transport fuel network in Canada
Imperial Oil and Husky Energy are entering into an agreement that will create a single truck transport fuel network of about 160 sites in Canada, approximately twice the size of either individual network today.
Petrolia obtains permit for Quebec well
Petrolia said it has obtained a completion permit which will allow it to carry out the cleaning of the well at Haldimand 4 in Quebec and start a long-term production test. The company have already removed the pump installed last year in order to prepare the well for the cleaning operations.
Veresen confirms $860million dollar Canadian gas plant will go ahead
Canadian energy firm Veresen has confirmed a new $860 million gas plant has been given the green light in British Columbia.