![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() by Daniel J. Graeber Washington (UPI) Feb 27, 2018
By reducing the thickness of the type of oil found in Alberta, government officials said they expect volumes through a limited network of pipelines to improve. The provincial government of Alberta said it would back a process called partial upgrading with an eight-year, $780 million (USD) commitment starting in 2019. Partial upgrading reduces the thickness of the heavier type of crude oil found in the province, which can cut industry costs and improve refinery processing. It also increases the amount of product that can flow through pipelines. "As we fight for new pipelines and a better price for our oil, we must also create the right conditions for investment and jobs in oil and gas processing and manufacturing," Alberta Premier Rachel Notley said in a statement. An accelerated rate of crude oil production in North America started straining existing pipeline capacity at least four years ago, forcing the industry to turn to rail transport to take up the slack. In Canada, pipeline company TransCanada pulled the plug on its Energy East pipeline plans citing regulatory issues last year and its Keystone XL oil pipeline south through the United States is still moving through approval processes. Plans for expanding the Trans Mountain pipeline through British Columbia, meanwhile, are moving forward, but at a slow pace given the different levels of permitting required. Nearly all of the oil exported from Canada heads to the U.S. market and, for the week ending Nov. 10, the four-week moving average for exports south was 3.1 million barrels per day. The pipeline network, however, is restrained and the November average for exports by rail was the highest since November 2014. The provincial government in Alberta said it expects 4,000 new jobs to come from the construction phase of the partial upgrading process. It could be worth as much as $17 billion in growth in gross domestic product for the province over the next 20 years. "Alberta needs to begin preparing now for the global energy economy of the future," Jeanette Patell, the co-chair of an energy diversification panel, said. "This means building on our existing strengths, which include a wide variety of resources, a skilled workforce and a world-class petrochemical industry."
![]() ![]() Continental Resources posts record for Bakken shale production Washington (UPI) Feb 22, 2018 Net production from the Bakken shale reservoir in North Dakota set an all-time high for the company in the fourth quarter, Continental Resources said. Continental is one of the more active U.S. shale players, with its average of six rigs in the Bakken shale planned this year representing about 10 percent of the total active rigs in North Dakota, the No. 2 oil producer behind Texas. Of its total proved reserves to year-end 2017, the Bakken accounted for 48 percent of Continental's total. ... read more
![]() |
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |