extraction could represent a game-changer for Utah's oil industry.
* We see a threat to growing oil reserves from oil sands
Philippi-Hagenbuch Inc., Peoria, Ill., has designed the first off-highway truck body specifically for hauling oil sands
. While oil sands
have been mined in Ft.
Canada's oil sands
make up an increasing proportion of its petroleum production, and Canada's oil sands
producers continue to look to the United States as the major market for their heavy oil exports.
The oil major said earlier on Tuesday it had agreed to sell 40% of its oil sand
project Kai Kos Dehseh to Thai sector player PTT Exploration and Production Plc (BAK: PTTEP) for USD2.28bn.
Critics say oil sand
projects are more expensive and harmful to the environment than traditional exploration.
Environmentally friendly processing of fossil fuels and wise use of renewable resources were addressed within the following thematic sessions: oil sands
and oil shale, synfuels, biofuels, petroleum and methane.
A change of methodology in calculating oil reserves by the Oil & Gas Journal now includes western Canada's oil sands
in its definition of proved oil reserves.
Muskeg River's oil sand
is close to surface and is the highest grade oil sand
known in the region.
Cutting-edge technologies and the rising value of light crude oils have ushered in an era of new investment in Alberta's oil sand
extraction, with the major players embarking on ambitious programs that will more than double production in the next century.
Under a new royalty regime recently announced by the province, companies will pay a minuscule one per cent royalty on all oil sands
production - yet another larger-than-life Alberta style natural resource give-away.
M2 EQUITYBITES-June 1, 2017-Shell divests oil sands
interests in Canada