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oil sands

OIL GAS RIG

Canada adapting to cheaper oil to avoid going way of the auto industry

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The Group of Seven’s biggest oil exporter may see drilling investment slashed by $23.2 billion in the coming 12 months, according to data compiled by Bloomberg. That’s a 29 percent reduction from the previous 12 months and the biggest since at least 2007.
(Mayra Beltran/Houston Chronicle)

CERAWeek: Low prices slow, but won’t end, Canadian oil sands development

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Expansions will keep moving ahead in Alberta, even though new greenfield projects are being halted amid low crude prices.
In this Thursday, Sept. 11, 2014 photo, workers lay cables on a new oil rig under construction for China National Offshore Oil Corp. (CNOOC) in a shipyard in Qingdao in east China's Shandong province. The Chinese exploration rig at the center of a tense maritime standoff with Vietnam earlier this year has made its first deep sea gas discovery in the politically volatile South China Sea, state media announced Tuesday, Sept. 16. The discovery by CNOOC was made about a month after its rig withdrew in July from Vietnam's exclusive economic zone to far less-contested waters closer to China. (AP Photo) CHINA OUT

Oil producer Nexen cuts workforce by 400

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Nexen is a wholly-owned subsidiary of CNOOC Limited, one of China’s major national oil companies.
(AP Photo/Gerald Herbert, File)

From Canadian to Californian crude, big carbon differences found

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The new oil-climate index delves into the greenhouse gas emissions associated with the wide spectrum of oil produced today — from light, gassy condensate to thick, sludgy bitumen.
Celebrity video Keystone XL screen grab

Celebrities line up to blast Keystone XL

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The singers, filmmakers and actors — including “Revenge” star Emily VanCamp and Dawn Oliveri of “House of Lies” — lay out arguments against the pipeline in a new video.
TransCanada chief executive Russ Girling  speaks at the company's investor day in Toronto. (SeongJoon Cho/Bloomberg)

TransCanada CEO: Other companies watching what happens on Keystone

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Midstream energy companies seeking to build pipelines will want more “clarity” about the regulatory process before they plunk down capital for the projects, TransCanada CEO Russ Girling said.
A crew in 2012 lowers a section of pipe into the ground with cradles near Winona, Texas. (AP Photo/Tyler Morning Telegraph, Sarah A. Miller)

EPA: Oil prices should be part of Keystone XL decision

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In a letter to the State Department released Tuesday, the EPA said plummeting crude prices could make the proposed pipeline vital to Canadian oil sands developers.
(Norm Betts/Bloomberg)

U.S. shale oil growth hurts Canadians as well as OPEC

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A surge of light oil from North Dakota and Texas is cutting into the earnings of Canadians who turn heavy oil sands into a lighter crude that fetches more from refiners.
Sen. John Thune, R-S.D., left, and Senate Minority Whip John Cornyn of Texas, right, listen as Senate Minority Leader Mitch McConnell of Ky., center, speaks during a news conference on Capitol Hill in Washington, Tuesday, Nov. 18, 2014. (AP Photo/Carolyn Kaster)

Senate tees up votes on Keystone XL, exports, climate

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The chamber is expected to vote on as many as three amendments to GOP-backed legislation to authorize the TransCanada Corp. pipeline on Tuesday, with more than four dozen other possibilities on the horizon.
U.S. Senator John Cornyn speaks to the audience at the GOP election night party in Austin on Tuesday, Nov. 4, 2014. (Kin Man Hui/San Antonio Express-News)

Beaumont event touts benefits of Keystone XL

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Crude has long coursed from Canada to Oklahoma through the existing Keystone pipeline. Southeast Texas connected to that line in January last year when the Keystone XL southern leg ending in Nederland was complete, and Gulf Coast plants are already refining crude from Canadian fields.