Chevron Increases Alberta Investment

Chevron Corp. is doubling down its bet on Alberta's oil sands, saying it aims to spend billions over the next decade to launch a second project.

The company said Thursday it has acquired rights to 73,000 hectares northwest of Fort McMurray — land that Chevron believes holds 7.5 billion barrels of oil.

The initial cost for Chevron is modest, between $50-million and $70-million to acquire two sections of leases. But turning that frozen muskeg into an industrial project will take years, and billions of dollars, said James Bates, vice-president of operations and asset development at Chevron Canada Ltd.

Technorati tags: Energy, Oil, Alberta, Chevron, Canada

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Fluor Invests in NuScale

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Wednesday Update

From NEI’s Japan micro-site: NRC, Industry Concur on Many Post-Fukushima Actions Industry/Regulatory/Political Issues • There is a “great deal of alignment” between the U.S. Nuclear Regulatory Commission and the industry on initial steps to take at America’s nuclear energy facilities in response to the nuclear accident in Japan, Charles Pardee, the chief operating officer of Exelon Generation Co., said at an agency briefing today. The briefing gave stakeholders an opportunity to discuss staff recommendations for near-term actions the agency may take at U.S. facilities. PowerPoint slides from the meeting are on the NRC website. • The International Atomic Energy Agency board has approved a plan that calls for inspectors to evaluate reactor safety at nuclear energy facilities every three years. Governments may opt out of having their country’s facilities inspected. Also approved were plans to maintain a rapid response team of experts ready to assist facility operators recoverin

NEI Nuclear Notes

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