The Fort Hills Energy L. P. announced that it will defer the final investment decision on the mining portion of the Project until a cost estimate consistent with the current market environment can be established. The Partnership now anticipates making a final investment decision in 2009. The Sturgeon Upgrader portion of the Project will be [...]
The Fort Hills Energy Limited Partnership said today that the preliminary results from the Front-End Engineering and Design (FEED) work suggest that estimated costs for its Fort Hills Project (Project) have risen considerably. The Project, as currently conceived, consists of an integrated oil sands mine and bitumen extraction plant 90 kilometres north of Fort McMurray, [...]
Petro-Canada, the operator and a 60% owner of the Fort Hills Project (Project), along with its Partners in the Fort Hills Energy Limited Partnership, said today that the preliminary results of the Front-End Engineering and Design (FEED) work suggests that estimated costs for the Fort Hills Project have risen considerably. The Project, as currently conceived, [...]
Oil States International, Inc. announced that the Company’s Canadian subsidiaries under PTI Group Inc. (”PTI”) were awarded a contract by Fort Hills Energy L.P. to manufacture, install, own and operate a first-class accommodation facility for the Fort Hills Project in the oil sands region of northern Alberta, Canada. The associated capital expenditures were included in [...]
Chevron Canada Limited, a wholly owned subsidiary of Chevron Corporation, today announced on behalf of itself and its co-venturers the completion of legal agreements with the Government of Newfoundland and Labrador to develop the Hebron heavy oil project offshore the East Coast of Canada.
The Hebron field is located 340 km offshore the province of Newfoundland [...]
Marking a new era of partnership in oil development in the province, the Honourable Danny Williams, Premier of Newfoundland and Labrador, and the province’s oil industry co-venturers today announced and signed the final deal for the development of the province’s fourth offshore oil project, Hebron. The Premier was joined by: the Honourable Kathy Dunderdale, Minister [...]
The anti-corruption group Transparency International rated more than 40 energy companies on how much they disclose about where they get their revenue, how much they pay host governments and how they operate.
The survey gave low grades to Exxon Mobil but praised Shell and Petrobras.
Royal Dutch Shell PLC, Brazil’s Petrobras, Norway’s StatoilHydro ASA and Petro-Canada are [...]
Petro-Canada is reporting oil and gas discoveries at two exploration wells: one in the U.K. sector of the North Sea and one in deep water off Trinidad and Tobago.
In Trinidad and Tobago, the Cassra-1 well in deep-water Block 22 was completed as a significant natural gas discovery. Petro-Canada operates the well and holds a [...]
Petro-Canada, the third-largest oil company in Canada, may stage development of its Fort Hills oil- sands project to reduce labor costs, a company executive said.
Dividing the project into two parts could cut demand for workers to 8,000 from the 12,000 currently estimated, Neil Camarta, senior vice-president of oil sands for the company, told an energy [...]
The oil ministry on Monday offered oil companies a record 48 exploration licenses for 85 offshore blocks, most near existing fields that Norway hopes will stimulate future production.
Norway, the world’s third largest oil exporter after Saudi Arabia and Russia, began offering unexplored blocks near existing, or mature, finds in 2003 in what it calls Awards [...]
