The main benchmark crude produced in the oil sands Western Canada Select (WCS). Fellows estimated that nearly all oil sands producers will continue to produce and potentially marginally expand as long as the prevailing price of WCS remains above C$40/bbl.
The Canadian oil sands (or tar sands) are a large area of petroleum extraction from bitumen, located primarily along the Athabasca River with its centre of activity close to Fort McMurray in Alberta, approximately 400 km northeast of the provincial capital, Edmonton. Increased global energy demand, high petroleum dependency and …
Oil-sands producers have been among the top-performing companies in the energy sector over the past year. Shares of the four largest Canadian oil-sands producers by market capitalization have ...
Find out more about Canada's oil resources and Canada's oil production. Oil sand is a naturally occurring mixture of sand, clay or other minerals, water, and bitumen. Bitumen can be extracted using two methods, depending on how deep the deposits are below the surface. Find out more about various oil sands extraction processes.
In the shadow of Canada's mega oil sands projects, smaller, technologically outdated facilities produce up to three times more emissions per barrel than the already high sector average- and rising ...
Wildfires disrupt some Canadian oil sands operations, prompting Cenovus to evacuate non-essential staff, while overall production remains high.
Canadian oil sands producers, facing a double whammy of low oil prices and higher taxes in Alberta, are slashing spending, suspending production, cutting jobs and halting shareholder dividends.
The Canadian oil sands are one of the world's largest sources of climate pollution and America's biggest source of imported oil. And they may be about to go bust.
"The Russian invasion of Ukraine has heightened interest in the ability of Canada—and oil sands specifically—to contribute more crude supply to the global oil market," said Kevin Birn, vice president, Canadian oil markets chief analyst, S&P Global Commodity Insights. "While this has increased the incentive to raise oil sands production in the near-term, a …
Despite this uncertainty about the additional export capacity from Alberta's oil sands, some of the biggest Canadian producers plan to boost production in the short to medium term.
Canadian oil sands producers are in a rush to boost production as the Trans Mountain expansion comes online, providing an additional 590,000 bpd in capacity.
Oil sands facilities produce one of two products: either a heavy marketable (non-upgraded) diluted bitumen, or a light upgraded synthetic crude oil. Both can be sold to refineries for conversion into final consumer products.
Oil and gas companies like ExxonMobil and the Canadian giant Suncor have transformed Alberta's tar sands—also called oil sands—into one of the world's largest industrial developments.
Canadian Natural will raise output from its Primrose site by 25,000 bpd in the current quarter and boost production at its Kirby oil-sands operation by 15,000 bpd in the fourth quarter, the ...
In 2013, oil sands were recorded to produce 1.95 million barrels per day. According to Canadian Association of Petroleum Producers (CAPP) it is estimated that the oil sands will produce 4.8 barrels per day by 2030.
This report shows that nearly all oil sands producers will continue to produce as long as the prevailing price of Western Canadian Select (WCS) crude oil remains above C$40 per barrel" (Fellows, 2022).
Canadian Oil sands producers are bringing down operating costs, moving more towards in-situ projects that provide better relative economics to mining projects, and using technology to streamline ...
The overall increase in 2023 was largely driven by production from the oil sands (+2.1%). In the second quarter, planned turnarounds in the oil sands coincided with wildfires across swathes of Western Canada, although the fires' impact on crude oil production was minimal. Record monthly volumes of synthetic crude were produced in …
Canada is the world's fourth largest oil-producing country. The oil industry in Canada has direct operations in seven of Canada's thirteen provinces and territories, including offshore.
This report shows that nearly all oil sands producers will continue to produce as long as the prevailing price of Western Canadian Select (WCS) crude oil remains above C$40 per barrel" (Fellows, 2022).
Oil Sands: Canadian Producers Practice Cost Control. August 2015 | Features. ... Total booked a $2.2 billion write-down against its Canadian oil sands operations in its 2014 accounts, while focusing on Fort Hills and its 118,000-bbl/d Surmont steam-assisted gravity drainage (SAGD) joint venture with ConocoPhillips, where first Phase-2 steam ...
Canadian Natural Resources (CNRL) becomes Canada's largest oil producer through its acquisition of Shell Canada's 70% interest in the Athabasca Oil Sands Project and in-situ assets in Peace River.
Do changing attitudes about oil, and projected shifts in global demand for it over coming decades, affect whether the Canadian pipeline is needed? Stewart Muir looks at what oil sands companies are …
Suncor Energy, Canada's second-largest oil producer, will focus this year on cutting operating costs in its oil sands mining business, CEO Rich Kruger said on Thursday, as the company continues ...
Canada's oil sands companies are perilously close to operating at a loss after six months of plunging crude prices, yet many say they have no plans to cut production at their vast projects in ...
The Pathways Alliance, a group of Canada's biggest oil sands producers, has removed all content about environmental goals from its website and social media pages, citing "significant uncertainty ...
The startup of a pipeline expansion anticipated in early 2024 will tighten light/heavy oil price differentials and boost efforts to export more Western Canadian oil sands crude barrels to the US Gulf Coast and West Coast, according to …
Oil, Natural Gas and You /
The Oil Sands Explained … in 10 minutes. Alberta's oil sands. It's the world's third largest oil reserves, 161 billion recoverable barrels in the ground. They're are huge part of Canada's economy, contributing trillions to Canada's GDP over the past 50 years, generating billions annually in government taxes, revenues and royalties ...
Northern Alberta's oil sands account for roughly two thirds of crude output from Canada, which is the world's fourth-largest oil producer. Canadian producers, like their counterparts globally ...
Oil sands more Canadian. According to the latest data from the Alberta Energy Regulator (AER), in September 2021 Canadian-headquartered companies owned approximately 85 per cent of oil sands production, up from 59 per cent in September 2014. Over about the same period, major oil sands producers reduced emissions intensity by …
An increasing proportion of Canadian fossil fuels have come from the oil sands in the western province of Alberta. Oil sands are an unconventional source of oil composed of a mix of sand, clay, water, and bitumen, which is a dense form of petroleum similar to asphalt.
To be clear, Pathways Alliance remains committed to the work we are doing. We believe our industry has a key role to play in reducing environmental impacts of oil sands production including helping Canada reduce its greenhouse gas emissions, while also supporting a vibrant economy and providing Canadians with secure access to affordable …
Increased Canadian ownership of the oil sands is setting the industry up for a more resilient future, according to industry experts. Multinational companies like Shell, ConocoPhillips, Devon and Equinor selling oil sands assets in recent years repeats a pattern that has in the past made Canada's industry stronger, says Jackie Forrest ...
We were the first company to commercially develop the oil sands in northern Alberta, creating an industry that is now a key contributor to Canada's prosperity.
He believes that the market is underestimating the growth prospects and the cash flow potential of the oil sands producers along with the midstream pipeline operators. Accordingly, he sees pockets of …
As proud Canadian companies, members of the Pathways alliance share the aspiration of Canadians to find realistic and workable solutions to the challenge of climate change. The oil sands industry ...
While IPC may be unique in going ahead with a brand new, so-called "greenfield" oil sands project, the industry's largest operators are also building for the future. In Cenovus Energy's case, long into the future. The company recently filed a regulatory application to extend production at its Christina Lake oil sands project to 2079.
Lenders including Royal Bank of Canada, Toronto-Dominion Bank and the Canadian Imperial Bank of Commerce increased their financing to the top 30 tar sands producers and six tar sands pipeline ...
