Canada based Husky Energy, the 3rd largest oil company in the country, is planning to expand its portfolios by placing more than 26 percent into two projects, namely the natural gas finds off the coast of China and the massive Oil Sands project. These two projects have been the focus of their attention for the past year after the budget was cut drastically due to the economic downfall. They expect to spend about C$3.1 billion in 2010 to increase oil production from the current 306 000 barrels of oil per day to about 330 000 barrels per day. This is for their largest oil sands project on the go at the moment and for their Asian properties the budget is set at C$660 million, which is an increase of C$140 million. Husky is planning to spend about C$85 billion to advance the Sunrise Oil Sands ...

After a slump in the oil prices and the slowing down of oil production, it is good to see that Suncor is restarting its development of the Firebag 3 Oil Sands Project.  Located just north of Fort McMurray, this oil sands prospect is expected to produce about 68 thousand barrels of oil per day by 2011. This comes after more than $900 million has been poured into the restarting of the Firebag site. Flint Energy is excited about acquiring the contract to be Suncor’s number one supplier, and they are thrilled that more than 385 oil sands jobs are to be created at the Sherwood Park modular fabrication facility. The oil sands prospect is one of the most important in North America, with plenty of job openings. Due to the recession, oil exploration and production has slowed, but thanks to the r...

Things are looking up for the oil industry and it seems as though the oil job market is stabilizing according to the latest Brent Crude and U.S Crude oil prices. Thursday the 4th June 2009, saw the oil price rise to a new high of almost $68 a barrel, which came in the wake of a United States Unemployment Data analysis, which showed that less people are filing claims for unemployment benefits. There is an increased demand for oil, and the higher prices were also supported by the forecasts of the Goldman Sachs U.S investment bank for $85 per barrel towards the end of 2009 and the introduction of a 2010 end of year forecast of $95 per barrel. The U.S Crude oil price rose by $1.50 per barrel, while the London Brent Crude rose by $1.68 per barrel, just before 2pm (GMT). This resurgence in the o...

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In an effort to reduce global warming, the Alberta Oil Sands project in Canada has taken a few knocks, to say the least. In the most recent Reuters Global Energy Summit held in Washington today, Steven Chu, the US Energy Secretary, stated that an agreement would have to be reached regarding the Oil Sands project and its impact on the environment. A firm believer in technology, Chu believes that this will be the answer to the Canada Oil Sands industry, which brings the largest supply of foreign crude oil into the US. Unfortunately, whilst very effective and securing strong ties with Canada, the Oil Sands project does pose some environmental damage regarding deforestation, global warming, and water resources, which various environmental groups have pointed out. The governments of Canada and ...

The Canadian oil industry has been affected by dropping oil prices, but Energy Minister, Mel Knight along with Canada’s government has ensured that jobs in oil and gas are safe due to a $1.2 billion boost into the Alberta sector. This is considered a short term response to the global economic crisis and is also not to be seen as a “gift” to bail out the oil companies. The Alberta oil workers are only given credit when they earn it. These incentives include a low 5 percent royalty on any new oil and gas wells that are discovered, and a royalty credit for every meter of drilled well. This royalty and credit program is designed to cushion the impact for small oil companies who will end up owing less than half the royalties, and it will mean that large oil companies are limited to 10 per...

The areas of Wood Buffalo and Fort McMurray in Canada just north of Montana are oil hot spots with hundreds of new jobs being offered all the way until 2012 and beyond in all areas of expertise from engineers and geologists, to drillers and assistants. In fact the city slogan for Fort McMurray is “We have the Energy” further cementing this as a long term project in which you can really benefit from by looking for oil jobs. With President Barack Obama making his first head-of-state visit to Canada on the 19th February, Canadian Prime Minister, Stephen Harper is expecting to discuss the issue of Oil Sands. With the new climate changes and energy efficiency that the United States and Canada are promoting, Barack is expected to speak out against the oil sands projects. The energy-s...