Oilsands pipeline expansion price rises $400M

CALGARY — Inter Pipeline Fund’s biggest project is getting bigger, growing to $2.6 billion from $2.2 billion, as its main oilsands customer commits to a bigger share of its capacity.

The Calgary-based company announced Tuesday it has entered into a binding agreement with the FCCL partnership (Cenovus Energy Inc. and ConocoPhillips Co.) on the project to expand bitumen and diluent pipelines serving its northern Alberta thermal oilsands projects.

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Cenovus expands rail shipments of oil to avoid pipeline bottleneck

CALGARY — Cenovus Energy Inc. plans to increase its rail shipments to 10,000 barrels per day this year to avoid a pipeline bottleneck that’s hurting Western Canadian oil prices.

“In December we had about 6,000 barrels per day on rail,” said Don Swystun, executive vice-president of refining, marketing, transportation and development, on a webcast from an unconventional energy conference in New York on Tuesday.

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Cenovus sees 14 per cent production bump in 2013, to miss 2012 cash flow targets

CALGARY – Cenovus Energy Inc. expects to grow oil production by 14 per cent next year, mainly thanks to expansion at its Christina Lake oilsands project in northern Alberta.

Output is expected to range between 180,000 and 196,000 barrels of oil equivalent per day, compared with the rate of 165,000 Cenovus expects to end 2012 producing.

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Feds reject proposed drilling expansion at CFB Suffield

Environmental groups are hailing a decision by the federal government to vote down a long-standing proposal to develop 1,250 new shallow gas wells in an environmentally sensitive area of Canadian Forces Base Suffield.

Cenovus Energy’s plan to expand drilling in the National Wildlife Area of the base, near the South Saskatchewan River, has been rejected, according to a statement by Environment Minister Peter Kent.

Read more:  http://tinyurl.com/aampy8h