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.
Linde has signed a long-term agreement to supply clean hydrogen to Dow’s ethylene cracker and derivatives site in Alberta,…
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Canada's Valeura Energy has reached first oil at its Nong Yao C project offshore Thailand.
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LS Power will buy Algonquin's renewable energy business for $2.5 billion.
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Canada's Tenaz Energy has agreed to buy NAM Offshore, a key player in the Dutch North Sea, for around EUR 165 million.
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As Canada's carbon tax rises, an oil sands producer is planning up to USD 1.5 billion in carbon capture projects.
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Ahead of LNG Canada's start-up, Petronas has added three LNG vessels to its North America-focused fleet.
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Canada's TC Energy will spin off the company's liquids pipeline business to a new entity that will own the Keystone oil pipeline.
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Baker Hughes’ rig count for June released on Friday revealed a drop of 28 international units compared with May, reaching 927. The numbers were up in North America,…
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The wildfires that raged across much of Alberta, home to Canada’s oil sands operations, will cost insurers some USD 2.8 billion, Insurance Bureau of Canada said late…
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Mexico has pledged to join an initiative backed by the US and Canada to reduce oil and gas industry-related methane emissions, a joint statement released on Wednesday…
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OPEC struck down a cap on production at its annual meeting in Vienna yesterday.
The cartel’s 13 ministers agreed to allow oil production to rise, stating that the…
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Dozens of international climate scientists have asked the Canadian government to reconsider a Petronas-backed LNG project in northwest British Colombia.
The report,…
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The wildfires that continue to eat away at the forests surrounding the oil sands operations in Canada’s Alberta province have necessitated the evacuation of oil…
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Abu Dhabi National Energy Company, or TAQA, revealed a loss of USD 166 million in Q1 due to lower oil prices in its quarterly results posted on Wednesday. During the…
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Oil sands operators Shell and ConocoPhillips are planning to resume operations in northern Alberta, the companies said late on Monday. The resumption of work in the oil…
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Crude futures saw gains early on Monday as Asian traders responded to reduced Canadian output and the change of the guard at Saudi Arabia’s Ministry of Oil. At 06:30…
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Operators working in Alberta’s oil patch have opened up their work camps to locals fleeing from the raging wildfires, Canadian media reported on Wednesday. As part of…
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