Statoil to use new oil sands technology to cut CO2 emissions

|About: Statoil ASA (STO)|By:, SA News Editor

Statoil (STO +0.9%) says it aims to lower carbon dioxide emissions per barrel from its Canadian oil sands projects by 20% within six years via new technologies designed to reduce energy and water use when producing bitumen.

STO is applying solvents to its steam-assisted techniques and will use valves to better direct steam to areas that need it, says its chief of Canadian operations, and is considering different drilling techniques and more efficient water recycling processes.

Emissions from Alberta’s oil sands have become a focal point for opposition to the Keystone XL pipeline, which would carry bitumen from the oil sands to U.S. Gulf coast refineries.