With construction of its oil sands upgrader still stalled, Suncor has planned to sell unprocessed bitumen to refiners south of the border, where strong demand for Canadian heavy oil has sent prices soaring in recent months. For full story, click here
Energy and Oil Minister Rafael Ramírez declared that bidding for the award of joint venture partners in developing of heavy crude oil reserves in one of four blocks in the Orinoco Basin had been delayed. For full story, click here
Nexen Inc. has today priced and agreed to issue US$1.0 billion of senior notes, consisting of US$300 million principal amount of 6.20% senior notes due July 30, 2019 and US$700 million principal amount of 7.50% senior notes due July 30, 2039. For full story, click here
Canadian Oil Sands Trust declared cash used in operating activities of $44 million for the second quarter of 2009 compared with cash from operating activities of $413 million for the same period last year. For full story, click here
Saudi Arabia may lower the official price of its heavy oil grade sold to Asia from a six-year high as processing profit for fuel used by ships and power plants dipped in the previous month. For full story, click here
Heavy-oil development and production company Ivanhoe Energy Inc. declared that it has sold all of its U.S. oil and gas operations to a segment of National Fuel Gas Co. for about $40 million. For full story, click here
Oilsands Quest Inc. and the Birch Narrows Dene Nation, declared the signing of a Memorandum of Understanding regarding the establishment of an economic relationship between the two parties. Chief Robert Sylvester, of the Birch Narrows Dene Nation, stated: We are very optimistic about our relationship with Oilsands Quest. For full story, click here
“Green bitumen”, an oilsands product that is acceptable to environmentally sensitive purchasers — can be achieved but it will come at a high cost, as per a study released by Canadian Energy Research Institute. For full story, click here
Cobra Oil & Gas Company declared that the company, along with its partner Enercor Inc., has secured the use of a proprietary oil extraction process for its Utah Oil Sands Prospect. For full story, click here
The Alberta government has released two reports that say greenhouse gas emissions from the oilsands aren’t that much different from those of other oil sources. For full story, click here
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