CALGARY, Alberta, Jan 10 (Reuters) – Canadian Natural
Resources Ltd (CNQ.TO: Quote, Profile, Research, Stock Buzz) said on Monday it may be able to resume
limited production at its Horizon oil sands plant in northern
Alberta after determining that key parts of the upgrader may
still be able to function despite a fire last week.
Canadian Natural, Canada’s No. 1 independent oil explorer
and producer, said in a release there is “a possibility” that
two of four drums in its coker unit were only slightly damaged
in a Thursday fire that forced the company to halt production
at the 110,000-barrel-a-day facility.
CALGARY, Alberta, Jan 7 (Reuters) – Canadian Natural
Resources Ltd’s (CNQ.TO: Quote, Profile, Research, Stock Buzz) shares tumbled and oil prices jumped
on Friday after a fire halted production at the company’s main
oil sands project in northern Alberta.
Canadian Natural, the country’s largest independent oil
producer, could not say when its 110,000-barrel-a-day Horizon
facility would resume normal operations. The plant, the newest
major project in Alberta’s oil sands, cost C$9.7 billion ($9.8
billion) to build.
CALGARY, Jan 6 (Reuters) – A fire broke out on Thursday at
Canadian Natural Resources Ltd’s (CNQ.TO: Quote, Profile, Research, Stock Buzz) Horizon Oil Sands
facility north of Fort McMurray, Alberta, injuring three
workers, the company said on Thursday.
Horizon’s upgrader, which converts bitumen stripped from
the oil sands into synthetic crude, was “fully engulfed in
flames,” a Fort McMurray radio station, Mix 103.7, reported on
its website. It said one of the injured workers suffered
JOHANNESBURG/CALGARY, Dec 20 (Reuters) – South Africa’s
Sasol (SOLJ.J: Quote, Profile, Research, Stock Buzz) said on Monday it will pay C$1.05 billion ($1.03
billion) for a half share of Talisman Energy Inc’s (TLM.TO: Quote, Profile, Research, Stock Buzz)
Farrell Creek shale gas property in a deal that could see the
company bring its gas-to-liquids technology to Western Canada.
Talisman said the investment by Sasol, formed 60 years ago
to turn South Africa’s coal reserves into liquid fuels, will
speed development of the company’s holdings in the Montney
shale gas region of northern British Columbia. The holdings
could contain as much as 44 trillion cubic feet of gas,
including the 9.6 tcf estimated at its Farrell Creek
CALGARY, Alberta (Reuters) – Canada’s energy regulator said on Thursday it approved plans for a C$16.2 billion ($16.1 billion) Arctic gas pipeline, a project that faces growing economic pressure as natural gas prices languish.
The National Energy Board, following six years of deliberations, said the Mackenzie Gas Project is in the public interest provided that the major oil companies that are backing it meet more than 200 environmental and socioeconomic conditions.
CALGARY, Alberta, Dec 8 (Reuters) – Canadian crude
producers struggled on Wednesday to cope with tight space on
Canadian pipelines as Enbridge Inc (ENB.TO: Quote, Profile, Research, Stock Buzz) works to cut a
backlog of crude waiting for shipment on key export lines.
Syncrude Canada Ltd, one of the biggest oil sands
producers, is delaying crude shipments to deal with the tight
pipeline space, the joint venture’s largest owner said.
CALGARY, Alberta (Reuters) – Husky Energy Inc (HSE.TO: Quote, Profile, Research, Stock Buzz) set a new course on Monday as it canceled plans to spin off its Southeast Asian operations, gave the green light to a C$2.5 billion ($2.45 billion) Alberta oil sands project and looked to boost short-term growth by acquiring Canadian oil and gas properties for C$860 million.
Husky, Canada’s No. 3 oil producer and refiner, also said it will boost capital spending next year to C$4.86 billion, 20 percent more than it budgeted for 2010, and will issue C$1 billion in shares to shore up its balance sheet.
CALGARY, Alberta, Nov 16 (Reuters) – Nexen Inc (NXY.TO: Quote, Profile, Research, Stock Buzz)
shares fell nearly 4 percent on Tuesday after it said output at
its C$6.1 billion ($6 billion) Long Lake oil sands project will
remain below its design rate through 2011 as it continues to
work the bugs out of the project.
The company, Canada’s No. 5 independent oil producer, said
it expects Long Lake to produce between 38,000 and 45,000
barrels per day of bitumen next year, less than the 72,000 bpd
it is designed to produce.
CALGARY, Alberta, Nov 4 (Reuters) – Canadian Natural
Resources Ltd (CNQ.TO: Quote, Profile, Research, Stock Buzz), reported a higher than expected
third-quarter profit on Thursday and said it has launched the
first C$1.25 billion ($1.25 billion) phase of its Kirby oil
The company, Canada’s No. 1 independent oil producer, said
it has given the go-ahead for the initial, 40,000 barrel per
day phase of the Kirby thermal oil sands project south of Fort
CALGARY, Alberta, Nov 2 (Reuters) – Talisman Energy Inc
(TLM.TO: Quote, Profile, Research, Stock Buzz), Canada’s No. 4 independent oil producer, said on
Tuesday its third-quarter profit rose fourfold on higher
natural gas prices and rising output from its shale gas
prospects in North America.
Talisman said a lengthy restructuring to focus its North
American operations on prolific shale gas deposits is nearly
complete and production is set to climb as it wraps up the sale
of properties that don’t fit into its new operations.