Oil Reserves168.1 billion barrels
Oil Production5.43 million bopd
Gas Reserves2.4 tcm
Gas Production172.3 bcm
The world’s third largest holder of oil reserves, third largest natural gas producer and biggest source of US energy imports, Canada – fuelled by abundant oil sands – is now looking east to Asian markets as US demand levels off, production rises and the Keystone XL pipeline project drags on.
Chinese companies, including PetroChina and its China National Petroleum Corporation parent company have invested in the oil sands and other parts of Canada’s energy sector.
The participation of international oil companies, both private and state-owned, in Canada’s oil industry has risen rapidly. With 168 billion barrels as of the end of 2013, the oil sands represent 96 percent of Canada’s oil reserves. However, getting oil sands bitumen to market is no easy task. In order for the oil sands region to reach its potential, significant challenges must be overcome.
Undaunted by the challenges and renowned for its innovative companies and operators used to working in unconventional reservoirs Canada is determined to get maximum benefit out of its massive supply of hydrocarbons, including its 2 tcm (71 tcf) of proved natural gas reserves.
Pembina and partners have sanctioned the USD 3.2-billion Greenlight Electricity Centre project to power a new data centre in…
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EDF has agreed to sell its renewable energy business in the US and Canada to private equity firm KKR.
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Murphy Oil has announced that its Bubale-1X exploration well offshore Côte d’Ivoire has encountered 30 metres of net oil pay.
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Newmont has secured approvals for the expansion of the Red Chris gold and copper mine in British Columbia.
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Hanwha Ocean has signed an MoU with Kanata Clean to develop a USD 15.7-billion, 12-million-tpy FLNG export project in British Columbia.
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ADNOC will explore upstream and LNG opportunities in Canada through its international investment arm, XRG.
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Fluor and JGC have received limited notice to proceed on LNG Canada’s Phase 2 expansion to double liquefaction capacity.
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ExxonMobil has frozen plans to build an LNG export terminal in Canada’s British Colombia province, international media reported on Thursday.
The terminal was…
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Canada has prepared a CAD 1.6-billion (USD 1.19-billion) programme to support the domestic oil and gas industry, the country’s minister of natural resources announced…
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Oil prices edged up on Monday morning in Asia amid expectations that de-facto OPEC leader Saudi Arabia will urge the organization and its allies to slash supply to…
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BHP has won 100% stakes in blocks 8 and 12 in the Orphan Basin offshore Canada, the company announced on Thursday.
The news came a day after Equinor announced…
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Krishna Persad, founder and CEO of the KPA Group, talks to TOGY about the geology of Trinidad and Tobago and the region, the country’s hydrocarbons profile, and…
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Oil prices inched down on Monday morning in Asia, despite a bounce in the region’s stock markets. Investors remained cautious after a sell-off last week that could…
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Sultan Al Burtmani, acting executive managing director of Oman Gas Company (OGC), talks to TOGY about integrating the gas network with upstream and downstream projects…
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A large explosion occurred at Irving Oil’s Saint John refinery in the Canadian province of New Brunswick, international media reported Monday.
Several refinery…
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Fluor Corporation and JGC Corporation have won a USD 14-billion engineering, procurement, fabrication and construction contract for the LNG Canada project, the US EPC…
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Canada at the last moment has joined an agreement with Mexico and the USA to replace NAFTA, international media reported on Monday.
The agreement, called the United…
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