Consider the challenges facing the oil industry this year – rock bottom prices, drought (water shortages), greenhouse gas legislation, new rules regarding First Nations and the stalling of major pipelines – Keystone XL, Northern Gateway to name just two. This was the comment Bryan Helfenbaum started of the session he was moderating at the World […]
Emerging heavy oil players from a conventional source
When it comes to petroleum production both Oman and Kuwait’s GDP sits around 50%. Production costs are low and reserves are plentiful. Now both countries are looking to expand their operations from conventional oil to heavy. Leading the way is Oman. Eng. Ali Al Gheity with Petroleum Development Oman says “the luxury this country has […]
Latin America looks to entice foreign investment in oil industry
“The first lesson in doing business in Latin America”, says SNC Lavelin VP., David Parker, “is to understand the region and its people are not uniformed and homogeneous. The countries have different risks and rewards.” Latin America is rich in petroleum reserves with some of the largest deposits in the world. To extract the riches, […]
Alberta Premier challenged but not deterred
Alberta Premier Jim Prentice told a crowd made up of representatives from the oil industry there are challenges being the largest land locked oil producer in the world, but he has a plan. Prentice was a keynote speaker at the World Heavy Oil Congress taking place in Edmonton, Alberta. Climate change and the environment are […]
Alberta oil sands not down for the count
“These are challenging times. I can’t say it any other way”. This is one of the last comments Alberta Premier Jim Prentice made at a news conference following his speech at the World Heavy Oil Congress. Prentice is counting on oil to hit the $60/barrel mark by next year. He’s basing his next budget on […]
Getting oil to market faces challenges
“Pipelines have become the focal point of debate when looking at the energy industry” That comment was made by Norman Rinne, the Director of Business Development with Kinder Morgan. Rinne told the crowd at the World Heavy Oil Congress being held in Edmonton, Alberta that all you have to do is look at the ongoing […]
Oil sands projects forge ahead
The dramatic drop in oil prices is having an impact around the world and Alberta’s oil sands is no exception. Mike Ekelund, the Assistant Deputy Minister, Strategic Initiatives for Alberta Energy says because “large projects are a marathon and not a sprint, unless they are still in the planning stages they are not easily shelved”, […]
Oil price downturn has potential to bring out best in the industry
The plunging price of a barrel of oil has the industry in North America and other parts of the world scrambling to cover costs. At the World Heavy Oil Congress now underway in Edmonton, Alberta, those in attendance heard from ARC Financial Corp’s VP, Jackie Forrest that companies “are at the threshold or below where they need […]
Heavy oil conference rolls into Edmonton
Turns out it’s not just politicians who forget downturns happen in the oil industry, the industry itself can have a short term memory when it comes to coping with this sort of problem. That’s one message that came from the opening session at the World Heavy Oil Congress underway in Edmonton, Alberta. Suncor’s Executive VP. Upstream Mark […]