Sentences with phrase «said oil sands»

The company also said oil sands operations production has benefited from reliable operations at its Firebag and MacKay River plants, but base plant operations dealt with a significant, weather - related outage in January that will cut first quarter output to roughly 400,000 bbls / d.

The industry, supported by the Canadian government, says the oil sands are crucial to Canada's economy and can provide the United States with a reliable source of fuel from a friendly neighbor.

Environment Minister Peter Kent says oil sands opponents «treacherous» Reuters «The right - of - center Conservative government was taken aback last week when the U.S. administration delayed approval of TransCanada Corp's proposed Keystone XL pipeline... Much to Kent's anger, two members of Parliament from the opposition New Democrats went to Washington this week to argue the pipeline should not go ahead until Canada has come up with a better plan to combat climate change.»

Not exact matches

Cenovus, one of the biggest of Canada's oil sands producers, said in March that it was operating at lower capacity due to the maxing out of pipelines and other routes through which it sends heavy oil south to U.S. markets.

CALGARY, Alberta, May 2 - Suncor Energy Inc said on Wednesday that its current growth plan is not constrained by pipeline bottlenecks and it does not expect to make any further major investments in Canada's oil sands until market access improves.

Last March, Royal Dutch Shell said it was selling most of its stake in Canada's oil sands, a vast project that has extracted millions of barrels of sticky, gooey hydrocarbons from the ground in a process that resembles mining more than drilling.

The latest National Energy Board forecasts for increases in oil sands production through 2025 roughly add up to what Keystone and Trans Mountain could handle, says University of Calgary economist Trevor Tombe.

The B.C. government has pinned much of the province's economic future on LNG exports, saying the projects are equivalent to Alberta's oil sands in terms of jobs and revenue generation.

But the project has galvanized environmentalists who say developing Canada's oil sands would spike carbon emissions linked to climate change and that much of the oil would be sold abroad.

«Rick's impact on the oil sands industry, the Canadian business community, and the broader community has been immeasurable,» Steve Williams, Suncor's current CEO, said in a statement.

Suncor Energy Inc., the world's second - largest oil - sands producer, said first - quarter profit fell 23 percent on lower output, higher costs and absence of a gain from insurance settlements a year earlier.

The U.S. can produce as much shale oil as it wants, but its Gulf Coast refineries are geared toward heavier kinds of crude that can easily process oil sand bitumen but aren't geared toward the lighter crude coming out of, say North Dakota's Bakken play.

Labor unions have pushed for approval of the pipeline, saying it would create thousands of construction jobs, while environmentalists opposed it because it would increase greenhouse gas emissions from Canada's oil sands.

The Liberals are unlikely to make any final decision on drug testing until the Supreme Court of Canada rules on its legality in a case between Suncor and workers at its Alberta oil sands operation, said Troy Winters, senior health and safety officer with the Canadian Union of Public Employees.

Helms also said that oil sands production levels could dip below one million per day before the end of 2016, if prices stay below the $ 50 / bbl.

Presumably, much of the criticism of tar - sand oil isn't that it's so environmentally evil that it's ethically worse than, say, Saudi oil.

CALGARY, Alberta, May 2 (Reuters)- Suncor Energy Inc said on Wednesday that its current growth plan is not constrained by pipeline bottlenecks and it does not expect to make any further major investments in Canada's oil sands until market access improves.

«There's a question of whether going along with the approval of the Northern Gateway pipeline will make LNG development in B.C. more challenging by angering First Nations so adamantly opposed to the oil sands pipeline,» said George Hoberg, a professor at the University of British Columbia's school of forestry and founder of UBCC350, a group pressing for action on greenhouse gas emissions.

Analysts at Canaccord Genuity said Monday the project's $ 5.3 - bilion northern leg «is no longer a necessity» for Canadian oil sands producers, thanks to the sudden rise of crude - carrying unit trains and rival pipeline schemes proposed by Enbridge Inc..

It's only sand and water,» said Ron Gilius, the director of the Pennsylvania D.E.P.'s Bureau of Oil and Gas Management, in 2008.

The company says it is working to ease the pain of toll increases, but it argues that the line is needed as a result of oil sands growth.

When asked about Canadian oil sands production, Mulva said those operations would be part of the upstream company.

«The Alberta wildfires and sharp pullback in oil sands production in May took the Canadian economy on a brief detour into negative growth,» said Craig Wright, senior vice-president and chief economist at RBC.

Oil sands work, you might say, but without the fabled oil sands ciOil sands work, you might say, but without the fabled oil sands cioil sands city.

You see economist Peter Tertzakian say that it's not just the end of the megaprojects, but that oil sands are yesterday's news.

«Investors are looking for shorter turnaround on their capital,» says Ben Brunnen, vice-president of oil sands for the Canadian Association of Petroleum Producers (CAPP).

«In light of growing trends, and following the decisions made today, the government of Canada has determined that foreign state control of oil sands development has reached the point at which further such foreign state control would not be of net benefit to Canada,» Harper said.

«It is likely that Keystone XL would, in fact, drive increased oil sands production in Alberta,» says an institute paper.

«The Deepwater Horizon disaster has also focused attention on the oil sands» 170 - billion [barrels] of economically recoverable reserves,» said Peter Buchanan and Meny Grauman.

However, Syncrude's forecasted production for the full year remains within the annual guidance range, said Suncor, which holds the majority stake in the oil sands joint venture project.

Evan Solomon: The government of Alberta, they point to these statistics: the oil sands creates $ 307 billion in tax revenue, $ 187 billion for the federal government, 23 % of employment is from oil sands, 7 % of employment in Canada from the oil sands and in Ontario alone, 7 %, they say, of employment comes from the oil sands and they say royalties of $ 1.9 billion fund programs across the country.

Most importantly, they are entirely project - specific; nowhere is there any discussion of the GHGs associated with multiple oil sands project, to say nothing of a total projected growth to 6.2 million barrels / day by 2035.

They point to an article that you wrote in March, I think, of 2012 in Policy Options, where you basically said, dirty oil, the tar sands it's called, dirty oil and the future of our country, where you argue that the development of the, as you use the word, tar sands, it's become a political term, by the way, as you know, is basically not necessarily good for the country, in fact it takes jobs away in the manufacturing sector of Ontario.

TransCanada has said its shippers remain committed to the project, which would deliver diluted bitumen from Alberta's oil sands to refineries on the Gulf Coast that are specifically equipped to process heavy crude.

Genscape oil analyst Carl Evans said that, even with crude prices below $ 50 (U.S.) a barrel over the past two years, heavy bitumen production in Canada's oil sands region has continued to grow.

Teck Resources Ltd. [TECK.B - TSX; TECK - NYSE] and Suncor Energy Inc. [SU - TSX] are taking a bigger stake in the Fort Hills oil sands project in Alberta, Teck said in a progress update....

The board, which regulates the province's oil and gas industry, said it expects oil sands production to hit 3.8 million bpd in nine years, up from 1.9 million bpd in 2012.

Fleming said there have been many disasters in the oil industry recently, and this report clearly spells out how the tar sands pipeline project is high risk.

The company, Canada's No. 2 pipeline operator, released a letter sent to U.S. Secretary of State John Kerry and other department officials saying that increased carbon levies for Alberta oil sands producers and new Canadian targets for greenhouse - gas emission cuts should serve to help assuage U.S. concerns that approving the C$ 8 billion ($ 6.41 billion) project would increase climate change.

Brett Harris, a spokesman for Calgary - based Cenovus Energy Inc., a committed oil - sands shipper on the proposed pipeline, said the approval «is in the best interest of the industry, best interest of Canada and the best interest of the U.S. as well.

Corporate Knights said this analysis could explain «why some of the biggest oil sands players are gobbling up low - carbon patents and quietly running the numbers on different scenarios, such as when they should exit the oil sands or make the shift to becoming predominately alternative fuel and green energy firms.»

Last week, Bill McCaffrey, chief executive of oil sands producer MEG Energy Corp., said his company is considering such exports as it becomes easier to move Canadian crude to Houston through expansions of the pipeline network.

Cllr Read said: «RBS is the UK's biggest sponsor of climate change and finances a whole range of environmentally devastating projects from oil extraction from the Canadian tar sands to the Kingsnorth power station.

«If you go with the numbers that are being published, if you account for the tar sands in Northern Alberta, we're supposed to have the second largest oil reserves in the world, second only to Saudi Arabia,» says Ma.

The result, Ma says, is a flurry of construction on new plants and facilities to extract oil from the tar sands.

A key decision to look out for is whether Obama says no to the Keystone XL pipeline, intended to carry oil from Canada's tar sands to the US.

That said, whereas CO2 emissions from coal - fired power plants in the U.S. have declined, greenhouse gas emissions from oil sands have doubled since the turn of the century and look set to double again by the end of this decade — the primary source of emissions growth for the entire country of Canada.

A push for oil sands oversight and new climate targets Harper has been a target of environmentalists for most of his tenure — they say he turned Canada into an international pariah by not regulating greenhouse gases from oil and gas, cutting clean energy and climate science programs, withdrawing from the Kyoto Protocol, «muzzling» scientists, pressing aggressively on Keystone XL and fossil fuels, and allowing the country's emissions trajectory to spiral away from targets under the Copenhagen Accord.

President Barack Obama has said he will make a final decision on whether to allow the pipeline connecting Canada's oil sands region to Texas refiners and several government agencies had been given until the end of May to weigh in.

Regarding Keystone, I myself think it is clear that Obama should say no to Keystone, because it is something in his power to do, which would have some effect on retarding development of the tar sands (despite what the flawed State Department EIS [Environmental Impact Statement] said), and because we really wouldn't get any significant benefit from saying yes; no real oil security, few permanent jobs, and most of the money goes to Canada and to refiners in free - trade zones.