News
What's new in the industry.
Canada spending expected to rise
September 1, 2010 CALGARY -- Capital expenditures in Canada's oil-and-gas extraction business are expected to rebound to $42-billion in 2010 after plunging during the economic downturn, Statistics Canada said yesterday.
ExxonMobil awards contract to develop offshore Canada heavy oil field
August 31, 2010 HOUSTON -- ExxonMobil has awarded a contract valued at up to $285 million over five years to WorleyParsons to help develop the Hebron heavy oil field offshore Canada, the latter said Wednesday.
Associated gas gathering project in Saudi-Kuwait Neutral Zone
August 31, 2010 KUWAIT CITY -- Kuwaiti and Saudi state-owned energy companies are planning to launch gas and natural gas liquids (NGL) gathering and distribution facilities through their joint venture (JV) al-Khafji Joint Operations Company (KJO), in the Partitioned Neutral Zone (PNZ) between the two states, Reuters reports.
Connacher sees 'commerciality' of Algar oil sands project October 1
August 30, 2010 CALGARY -- Canada's Connacher Oil and Gas expects its new Algar oil sands project in the Great Divide region in northeastern Alberta to achieve "commerciality" October 1, the company said Monday.
CNPC plans China's first intelligent oilfield
August 30, 2010 BEIJING -- China National Petroleum Corp. (CNPC) is currently drawing up plans to turn the already thoroughly "digitalized" Karamay heavy oil field, in northwestern China's Xinjiang Uygur Autonomous Region, to become China's first intelligent oilfield in the coming five years.
Korean fund invests $50 million in Laricina
August 27, 2010 CALGARY -- The Korean sovereign wealth fund became the latest Asian investor in the oilsands sector after it made a $50-million investment in Calgary-based thermal oilsands developer Laricina Energy.
Imperial purchases rights to recovery process
August 27, 2010 CALGARY -- Imperial Petroleum, Inc. has announced that it has purchased the exclusive rights to Canada for the development of a "revolutionary process" designed to recover bitumen or heavy oil from tar and oil sands
Ecopetrol moves closer to building major pipeline
August 19, 2010 BOGOTA -- Colombia's state-owned oil company Ecopetrol is moving closer to constructing its new Bicentennial Pipeline with the announcement Wednesday that it is establishing a wholly owned subsidiary called Ecopetrol Pipelines International to build and operate the pipeline estimated to cost $4.2 billion.
