Enbridge's Light Oil Market Access Program, a plan to ship oil from Alberta and North Dakota to Eastern Canada and the US Midwest, is seeing much less resistance than the company's flagship Northern Gateway project.
The premiers of Alberta and Quebec have agreed to consider shipping oil to Eastern Canada following strained relations over a similar proposal to transport oil across British Columbia to the West Coast.
Interest in Canada's oil assets is steadily increasing, including from Indian private and public companies.
The $15 billion takeover of Nexen by Chinese state-owned company CNOOC has triggered a fresh wave of resource pride in Canada and the United States. Do foreign takeovers of Canadian oil companies present more risk or opportunity?
Canadian oil and gas producer Nexen Inc. (TSX:NXY) has agreed to be acquired by China Offshore Oil Company (COOC) for $15.1 billion, The Toronto Star reports.
Some junior oil companies are looking to prove that they can hang with the big boys in the Alberta Oil Sands.
Crude oil production is Canada is expected to double within the next three decades, despite current tight finances and a slower pace of development in the oil sands, a new report has said. In a best case scenario, oil production is forecast to rise to 3.3 million barrels per day by 2015 from 2.7 million barrels last year, and up to 4.2 million barrels by 2025. Solely in the oil sands, production is expected to increase by 83 per cent to 2.2 million barrels per day by 2015, and climb to 3.3 million barrels per day by 2025.
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