Osum Oil Sands Corp Announces $275 Million Financing (PR Newswire via Yahoo! Finance)
Osum Oil Sands Corp , a privately-held company focused on bitumen extraction, today announced that it has closed a private equity financing for a total of CDN$275 million at a price of CDN$10.50 per share.

Alberta Plans Oil Sands Royalties in Bitumen, Globe & Mail Says (Bloomberg.com)
Aug. 26 (Bloomberg) -- Alberta is pushing forward a plan to take some oil sands royalties in bitumen instead of cash to keep as much heavy crude processing as possible within the province, the Globe and Mail reported.

Grizzly Oil Sands Appoints John V. Pearce as Chief Executive Officer (PrimeNewswire via Yahoo! Finance)
CALGARY, Alberta, Aug. 26, 2008 -- Grizzly Oil Sands ULC today announced the appointment of John V. Pearce to the position of Chief Executive Officer.

Buffett says has no "buy order" on oil sands firms (Reuters via Yahoo! News)
Warren Buffett toured Canada's oil sands with his friend Bill Gates this week to understand how the resources are developed, but the billionaire investor said on Friday he had no plan to buy into the sector.

ESI to Monitor Alberta Oil Sands Air and Water Quality (CCNMatthews via Yahoo! Finance)
VICTORIA, BRITISH COLUMBIA-- - ESI Environmental Sensors Inc. today announced the company has been awarded an initial contract valued at more than $120,000 for procurement and installation of an air quality and soil moisture monitoring tower for deployment in the Fort McMurray, Alberta area.

Environmentalists weigh costs of Alberta oil sands (International Herald Tribune)
Extraction has become economically feasible, but the impact of oil production on the environment is a growing concern.

Canadian Oil Officials to Meet With Obama Adviser, Star Reports (Bloomberg.com)
Aug. 27 (Bloomberg) -- Canadian government and oil industry officials will meet with Senator Barack Obama 's top energy adviser today to promote Canada's oil-sands industry, the Toronto Star reported.

Excelsior Announces Second Quarter 2008 Results- Delineation Drilling and Independent Report Confirm Resource Potential (CCNMatthews via Yahoo! Finance)
CALGARY, ALBERTA-- - Excelsior Energy Limited is pleased to report results for the three and six month periods ended June 30, 2008. The Company continues to focus efforts on oil sands exploration and appraisal in the Hangingstone and West Surmont areas in the Athabasca oil sands region of Alberta.

Firesteel sells 5.7% of its Blacksteel shares for $401,250; Grants stock options (CNW Group via Yahoo! Finance)
The Board of Directors of Firesteel Resources Inc. is pleased to announce that Firesteel has completed phase 1 the first tranche of a non-brokered private placement of 700,000 common shares of its 4.7 million share holdings in affiliated company Blacksteel Oil Sands Inc. .

Buffett, Gates tour Canadian oil sands operation (Reuters via Yahoo! News)
Warren Buffett and Bill Gates, two of the world's richest men, toured Canadian Natural Resources Ltd's Horizon oil sands project near Fort McMurray, Alberta, this week.



More Oil Sands Stories...

U.S. Energy Information Administraion Press Releases

World Energy Use Projected to Grow 50 Percent Between 2005 and 2030
(Wed, 25 Jun 2008) World marketed energy consumption is projected to grow by 50 percent between 2005 and 2030, driven by robust economic growth and expanding populations in the world’s developing countries, according to the reference case projection from the International Energy Outlook 2008 (IEO2008) released today by the Energy Information Administration (EIA). Average world oil prices in every year since 2003 have been higher than the average for the previous year and prices in 2007 were nearly double the 2003 prices in real terms. The IEO2008 uses oil price cases originally developed in the summer of 2007 for use in the Annual Energy Outlook 2008, which focuses on the U.S. energy outlook. Get all the details...

MEDIA ADVISORY : REVISED STARTING TIME - EIA to Release International Energy Forecasts
(Thur, 19 Jun 2008) WHO: Guy Caruso, Administrator, Energy Information Administration (EIA), U.S. Department of Energy WHAT: EIA presents projections of world energy supply and demand through 2030 with the release of the reference case projections from International Energy Outlook 2008. WHEN: Wednesday June 25, 2008, 9:00 AM Eastern Time WHERE: Center for Strategic and International Studies (CSIS), B-1 Conference Center, 1800 K Street, NW, Washington, DC EIA PRESS CONTACT: National Energy Information Center: (202) 586-8800, infoctr@eia.doe.gov

EIA Strengthens Process for Public Release of Weekly Petroleum and Natural Gas Data
(Mon, 2 Jun 2008) The Energy Information Administration (EIA) has verified that petroleum data in the Weekly Petroleum Status Report (WPSR) for the week ending May 23, scheduled for release at 10:30 a.m. Eastern Time on May 29, 2008, was available and accessed on the public EIA website prior to its scheduled release time due to a malfunction in the system used to load the data while keeping it from public release prior to the scheduled release time. EIA has determined that changes need to be made to its systems and procedures to avoid a recurrence. Some of these changes require implementation and testing, some of which will not be possible before the next scheduled release on Wednesday, June 4, 2008. Consequently, EIA will be changing its release procedures for the next several weeks to allow time for implementation and testing of system changes. The procedures will also apply to the release of natural gas storage data in the Weekly Natural Gas Storage Report (WNGSR) on Thursday morning. Get all the details...

EIA Responds to Premature Public Release of Weekly Petroleum Data
(Thurs, 29 May 2008) The Energy Information Administration (EIA) is aware that petroleum data for the week ending May 23, scheduled for release at 10:30 AM Eastern Time today, was available on the public EIA website before the scheduled release time. Initial indications suggest a malfunction in the system used by EIA to load the data while keeping it from public release prior to the scheduled release time. EIA is investigating this event and its causes. EIA will make interim changes to its systems or procedures needed to avoid a recurrence before next week’s release. Details on changes will be available no later than Monday. EIA will also engage with its stakeholders on longer term actions to permanently assure the fair and timely release of weekly data in an environment where increased demand for electronic access to petroleum data is presenting technological challenges.

U.S. Energy-Related Carbon Dioxide Emissions Rose by 1.6 Percent in 2007
(Tues, 20 May 2008) U.S. carbon dioxide emissions from burning fossil fuels increased by 1.6 percent in 2007, from 5,888 million metric tons of carbon dioxide (MMTCO2) in 2006 to 5,984 MMTCO2 in 2007, according to preliminary estimates released today by the Energy Information Administration (EIA). The economy, as measured by Gross Domestic Product (GDP), grew by 2.2 percent and energy demand rose by 1.7 percent indicating that energy intensity (energy use per unit of GDP) fell by 0.5 percent. Carbon dioxide intensity (carbon dioxide emissions per unit of GDP) also fell by about 0.5 percent. Factors that drove the emissions increase included weather conditions that increased the demand for heating and cooling services and a higher carbon intensity of electricity supply. Get all the details...

EIA Launches Plain Language Series to Explain Energy Topics
(Thurs, 1 May 2008) Energy in Brief, released today, is a new series from the Energy Information Administration (EIA) that explains important energy topics using plain language. As the source of official energy statistics from the U.S. Government, EIA provides the most accurate, policy-neutral energy data and analysis available. The new Energy in Brief series strives to make EIA information more accessible to energy novices. “Energy education is a critical part of EIA’s mission. At a time when American consumers face many energy-related challenges, it is more important than ever to provide the public with reliable energy information in a format that is useful and accessible by the widest possible audience,” said EIA Administrator Guy Caruso. Get all the details...

Federal Energy Subsidies and Support Double between 1999 and 2007
(Tue, 8 Apr 2008) Total Federal energy-specific subsidies and support to all forms of energy are estimated to have reached $16.6 billion for fiscal year (FY) 2007, according to Federal Financial Interventions and Subsidies in Energy Markets 2007, released today by the Energy Information Administration (EIA). This amount is more than double the level, in real terms (2007 dollars), of the estimated $8.0 billion shown in the last EIA report on subsidies completed in May 2000. Tax expenditures, one of four types of subsidies examined in the report, have more than tripled since 1999, rising from $3.2 billion in 1999 to more than $10.4 billion in 2007. Get all the details...

U.S. Nuclear Electricity Generation at Record Level in 2007
(Mon, 31 Mar) The U.S. nuclear industry supplied a record 806.5 billion kilowatthours of electricity in 2007. The largest increase came in Tennessee, with 4 billion kilowatthours more nuclear-provided electricity in 2007 than in 2006, an increase of 16 percent, according to preliminary Energy Information Administration (EIA) data released today. National total nuclear generation was 2.4 percent higher than in 2006, and 2.3 percent higher than in the previous record year, 2004. The capacity factor (the amount of power actually generated compared with the maximum amount that could be generated) for 2007 was 91.8 percent, exceeding the previous record capacity factor of 90.3 percent in 2002. Get all the details...

Energy Outlook Update to Address Impacts of Recent Energy Legislation
(Thu, 3 Jan 2008) The Energy Information Administration (EIA) will be updating recently released projections of U.S. energy demand and supply through 2030 to reflect the provisions of the Energy Independence and Security Act of 2007, which was signed into law on December 19, 2007. Specifically, the Annual Energy Outlook 2008 (AEO2008) reference case, which is often used as the baseline for analyses of proposed policy changes and had originally reflected existing laws and policies as of October 2007, will be revised to reflect the estimated impacts of this new law on future energy use. Get all the details...

Energy Information Forecasts

Advertisement starts (Tiscali)
could be forced to draw on oil inventories to make up for disruptions, after data from the U.S. Energy Information Administration showed U.S. crude stocks fell 100,000 barrels last week, against calls for a build.

U.S. stocks finish strong on positive data (International Herald Tribune)
Oil rose on forecasts that Tropical Storm Gustav will intensify into a hurricane and lead to a shutdown of U.S. oil and natural gas platforms as it churns toward the Gulf of Mexico.

Crude Oil Rises a Third Day on Storm Threat in Gulf of Mexico (Bloomberg.com)
Aug. 27 (Bloomberg) -- Crude Oil rose for a third day on forecasts Tropical Storm Gustav will strengthen as it enters the Gulf of Mexico, home to 26 percent of U.S. production.

Oil rises as Gustav threatens U.S. Gulf (Reuters via Yahoo! UK & Ireland News)
Oil rose on Wednesday on forecasts that Tropical Storm Gustav will intensify into a hurricane as it ploughs toward the U.S. oil and natural gas platforms in the Gulf of Mexico.

Oil rises with Gustav threat (TVNZ)
Oil has risenon forecasts that Tropical Storm Gustav will intensify into a hurricane as it ploughs toward the US oil and natural gas platforms in the Gulf of Mexico.

Oil rises as Gustav threatens US Gulf (Stuff)
Oil has risen overnight on forecasts that Tropical Storm Gustav will intensify into a hurricane as it ploughs toward the US oil and natural gas platforms in the Gulf of Mexico.

Oil rises as Gustav threatens US Gulf (SABC News)
Oil rose on forecasts that Tropical Storm Gustav will intensify into a hurricane as it ploughs toward the US oil and natural gas platforms in the Gulf of Mexico.

Oil price spikes on tropical storm fears (CNN.com)
(AP) -- Oil prices spiked to over US$118 a barrel Wednesday on growing concerns that Tropical Storm Gustav may disrupt operations in the Gulf of Mexico, home to a quarter of U.S. crude production. A weaker dollar also helped lift prices.

Oil rises above $119 as Gustav approaches (AP via Yahoo! News)
Oil prices spiked above $119 a barrel Wednesday on fears that Tropical Storm Gustav may strike the U.S. Gulf Coast, home to a quarter of U.S. crude production, as a powerful hurricane.

US OIL INVENTORIES: Crude's Slight Draw Bucks Expectations (Nasdaq)
NEW YORK -(Dow Jones)- U.S. crude-oil inventories in the week ended Aug. 22 fell slightly, bucking analysts' expectations, according to data released Wednesday by the U.S. Department of Energy.