A round up of the past month's key Canadian Energy industry topics including Oil Sands, East Coast News, West Coaast News, Emerging Issues can be found in full on the FMC website, and is provided each month by FMC's Energy Group.
Oil Sands News
Suncor announced that it has resumed normal operations after completing maintenance on Upgrader 2 at its oil sands facility...MEG Energy began the year with its third-strongest quarter on record, producing an average of 28,446 bpd in the first quarter with a steam-to-oil ratio (SOR) of approximately 2.5...Following an outstanding performance with its ramp up of Phase C at Christina Lake, Cenovus expects to be able to reduce the ramp up time on future phases to between 6 to 12 months, rather than the historical 12 to 18 months.
East Coast News
Husky's 2012 plans for White Rose and North Amethyst were recently reported in its first quarter results, published on April 25, 2012...The province of Newfoundland and Labrador tabled its provincial budget this month, and therein reported a surplus of $776.4 million for the 2011/2012 fiscal year.
West Coast News
Kinder Morgan reported increasing demand for new oil storage capacity as producers look to hedge production in favour of higher prices a few months into the future...Crescent Point Energy is set to acquire privately held Cutpick Energy for a purchase price of $425 million.
Canadian Arctic News
Husky has successfully drilled and cased two pilot wells in the Northwest Territories. The vertical wells were drilled on exploration licenses acquired by the company in 2011...MGM Energy, a Canadian energy company focused on the acquisition and development of resources in Canada's Northwest Territories and Arctic regions, is searching for a partner to assist in the development of its Canol oil shale play.
Alternative Energy
Canada Solar, one of the world's largest solar panel producers, expanded its portfolio by acquiring a major interest in 16 Ontario solar projects from SkyPower, a leading solar developer in Canada...The Energy Minister of Manitoba made an announcement this month that the Manitoba government was establishing a $30 million fund to assist local businesses remain competitive in the renewable energy field.
On the Horizon
Kinder Morgan has launched a binding open season to determine the level of interest in carrying condensates to Canada through its reversed Cochin pipeline.
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