Partnership in Canada puts off oil sands decision (Houston Chronicle)
Canada's oil sands industry is showing more signs of cooling as crude prices continued their fall from record summer highs.

Further signs of stress in Canada's oil sands (AP via Yahoo! News)
Canada's booming oil sands industry showed more signs of cooling off Monday as crude prices continued their long plummet from record summer highs.

Summary Box: Further stress in Canada oil sands (AP via Yahoo! News)
WHAT HAPPENED: Petro-Canada and its partners Teck Cominco Ltd. and UTS Energy Corp. became the latest companies to postpone expansion of an oil sands project by delaying a decision on further investment in a $19.5 billion oil sands project in northern Alberta. They also shelved plans to building an upgrade refinery.

Oil Sands Split Trust (TSX:OST.UN and OST.PR.A) Announces Distributions for Fourth Quarter 2008 (CCNMatthews via Yahoo! Finance)
TORONTO, ONTARIO-- - Oil Sands Split Trust announces a decrease in the quarterly distribution from $6.50 per Capital Unit to $3.50 per Capital Unit payable on December 15, 2008 to unitholders of record on November 28, 2008; and a quarterly interest payment of $0.36125 per Preferred Security payable on December 15, 2008 to securityholders of record on December 3, 2008.

Summary Box: Further stress in Canada oil sands (AP via Yahoo! Finance)
WHAT HAPPENED: Petro-Canada and its partners Teck Cominco Ltd. and UTS Energy Corp. became the latest companies to postpone expansion of an oil sands project by delaying a decision on further investment in a $19.5 billion oil sands project in northern Alberta.

Fort Hills latest oil-sands casualty (Toronto Star)
Alberta's $24 billion Fort Hills oil-sands project has been put on hold until next year so Petro-Canada and its partners can get a better handle on costs.

Petro-Canada Postpones C$25.3 Billion Oil-Sands Mine (Update5) (Bloomberg)
Nov. 17 (Bloomberg) -- Petro-Canada , the country?s third- largest oil company, has delayed the C$25.3 billion ($20.6 billion) Fort Hills oil-sands mining project in Alberta because of rising costs and falling oil prices.

Further signs of stress in Canada's oil sands (San Francisco Chronicle)
Canada's booming oil sands industry showed more signs of cooling off Monday as crude prices continued their long plummet from record summer highs. Petro-Canada and its partners Teck Cominco Ltd. and UTS Energy Corp. postponed a decision on further investment...

Big oil sands mine development project decision delayed (Mineweb)
Petro-Canada is delaying an investment decision on the Fort Hills oil sands mine project and also on the associated upgrader as it waits for costs to come down.

Summary Box: Further stress in Canada oil sands (San Francisco Chronicle)
WHAT HAPPENED: Petro-Canada and its partners Teck Cominco Ltd. and UTS Energy Corp. became the latest companies to postpone expansion of an oil sands project by delaying a decision on further investment in a $19.5 billion oil sands project in northern...



More Oil Sands Stories...

U.S. Energy Information Administraion Press Releases

End of Year 2007 U.S. Natural Gas Proved Reserves Set A New Record U.S. Proved Oil Reserves Also Grew In 2007
(Thu, 16 Oct 2008) Record-high additions to U.S. dry natural gas proved reserves in 2007 totaled 46.1 trillion cubic feet (Tcf), more than double the 19.5 Tcf of dry natural gas actually produced in the United States during the year, according to information released today by the Energy Information Administration. As a result, total proved reserves of dry natural gas in the United States at the end of 2007 rose to 237.7 Tcf, 13 percent above the year-end 2006 level and the highest level in the 31 years EIA has published annual reserves data. Get all the details...

EIA Issues Federal Register Notice Regarding Public Release of Weekly Petroleum and Natural Gas Data
(Wed, 15 Oct 2008) Today, the Energy Information Administration (EIA) published a notice in the Federal Register requesting comments on the process and technologies used for disseminating its Weekly Petroleum Status Report (WPSR) and Weekly Natural Gas Storage Report (WNGSR).
EIA developed its current dissemination processes and information technologies in an attempt to meet the goal of providing fair access to any interested user, but has recently faced challenges that may require changes in the process and technologies used for disseminating this weekly data. Release of these reports has been met with increasing interest and access through automated retrieval programs, or “robots,” with some robots designed to submit requests so rapidly that their total load has reduced overall server performance and impaired access by others.
The notice requests comments on several questions regarding appropriate standards of fair information release, timing, possible security policies and effective technology solutions. Written comments are due within 30 days, and will be posted on the EIA website. After consideration of the comments, EIA will issue, in the Federal Register, a description of revised policies, processes and technologies used to disseminate the WPSR and WNGSR.
The Federal Register notice can be found at: http://edocket.access.gpo.gov/2008/pdf/E8-24487.pdf
Get all the details...

NOTE TO EDITORS: EIA Launches New Online Press Room
(Tue, 07 Oct 2008) EIA’s Press Room, a new web site feature launched today, brings together selected Agency content and contacts to better meet the needs of the media: http://tonto.eia.doe.gov/pressroom/
Featured content includes:
* Press releases
* Congressional testimony
* Media contacts
* Upcoming reports and testimony
* Weekly data releases
* “Energy in Brief” articles that explain important energy topics in plain language
The development of our Press Room was guided by Internet industry studies, interviews with journalists, analyses of web site visits, and information about how the media use our web site and information. Our aim was to make EIA information more accessible to our media customers.  RSS feeds are also available now for EIA Congressional Testimony and Presentations. Get all the details...

MEDIA ADVISORY: EIA to Release Winter Fuels Outlook
(Thu, 25 Sep 2008) WHO: Howard Gruenspecht, Acting Administrator, Energy Information Administration (EIA) WHAT: EIA presents its outlook for heating fuel costs with the release of its October 2008 Short-Term Energy Outlook at a press conference as part of the 2008 – 2009 Winter Fuels Outlook Conference. The Conference is an annual event sponsored by EIA and the U.S. Department of Energy's Office of Electricity Delivery and Energy Reliability and hosted by the National Association of State Energy Officials (NASEO). Accompanying this media advisory is the agenda for the entire Winter Fuels Outlook Conference WHEN: Tuesday October 7, 2008 10:00 AM Eastern Time (The Winter Fuels Outlook Conference itself begins at 8:30 AM) WHERE: Rotunda Room Ronald Reagan Building and International Trade Center 1300 Pennsylvania Avenue, NW Washington, DC 20004 PRESS CONTACT: National Energy Information Center: (202) 586-8800, infoctr@eia.doe.gov NOTE: Camera crews should arrive early enough to be set up prior to the 8:30 AM opening remarks of the Winter Fuels Conference. Short-Term Energy Outlook will be available at 8:30 AM on the EIA Internet site Get the agenda and STEO...

NOTE TO EDITORS: Discussion of the Sample Changes for the Weekly Natural Gas Storage Report
(Wed, 20 Aug 2008) This special report provides details on the recent change in the survey sample for the EIA-912 survey, “Weekly Underground Natural Gas Storage Report.” The transition from the old to the new sample began with the release of the Weekly Natural Gas Storage Report on May 22, 2008, and was complete with the release of June 12, 2008 (the affected working gas estimates were for weeks ending May 16, 2008, through June 6, 2008). Prior to implementation of the new sample in the published estimates, both samples were used in parallel to estimate weekly natural gas storage stocks from May 4, 2007, through May 9, 2008. Get all the details...

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

Diesel, Oil Prices Continue to Fall Amid News of Troubled Global Economy (TruckingInfo.com)
11/18/2008 Diesel prices continue their headlong plunge, with the U.S. Energy Information Administration reporting an average retail price of $2.809 in its weekly report, down 13.5 cents from last week and more than 60 cents lower than a year ago.

EIA: OPEC 10 Month Oil Export Revenue +32% On Full-Year 2007 (CattleNetwork.com)
NEW YORK (Dow Jones)--OPEC has earned an estimated $884 billion on oil exports in the first 10 months of 2008, or 32% more than it earned in all of 2007, the U.S. Energy Information Administration projected.

Oil steady above $54, eyes on U.S. stocks data (Reuters via Yahoo! News)
Oil prices were little changed above $54 a barrel on Wednesday ahead of data expected to show U.S. crude stocks rose last week, another sign that the global economic slump is clipping fuel demand.

Oil steady above $54, eyes on US stocks data (The Economic Times)
Oil prices were little changed above $54 a barrel ahead of data expected to show US crude stocks rose last week.

Oil prices fall as OPEC dampens output cut prospects (AFP via Yahoo! News)
Oil prices fell on Monday after the OPEC crude cartel talked down a possible cut to output, while news of a recession in Japan stoked fears about weak global demand, analysts said.

Energy agency cuts oil demand forecasts (AP via Yahoo! News)
The International Energy Agency made new cuts Thursday to its global oil demand forecasts for this year and next as rich-world economies sink into recession and growth slows in the developing countries.

As OPEC Sets Crisis Talks, Market Mulls $30 Oil (Rigzone)
It seems the only people using more oil these days are OPEC ministers jetting off to crisis talks about tumbling global oil demand and collapsing prices.

Oil prices fall as OPEC dampens output cut prospects (Outlook India)
Oil prices fell today after the OPEC crude cartel talked down a possible cut to output, while news of a recession in Japan stoked fears about weak global demand, analysts said.

Government lowers forecast for heating costs this winter (USA Today)
Gasoline is expected to remain a relative bargain through 2009, with prices averaging $2.37 a gallon, and home heating costs will likely be flat this winter under sharply lower U.S. forecasts released Wednesday.

Energy agency cuts oil demand forecasts (San Francisco Chronicle)
The International Energy Agency made new cuts Thursday to its global oil demand forecasts for this year and next as rich-world economies sink into recession and growth slows in the developing countries. The Paris-based agency now expects global oil demand to...