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,…
READ MORE
Canada's Valeura Energy has reached first oil at its Nong Yao C project offshore Thailand.
READ MORE
LS Power will buy Algonquin's renewable energy business for $2.5 billion.
READ MORE
Canada's Tenaz Energy has agreed to buy NAM Offshore, a key player in the Dutch North Sea, for around EUR 165 million.
READ MORE
As Canada's carbon tax rises, an oil sands producer is planning up to USD 1.5 billion in carbon capture projects.
READ MORE
Ahead of LNG Canada's start-up, Petronas has added three LNG vessels to its North America-focused fleet.
READ MORE
Canada's TC Energy will spin off the company's liquids pipeline business to a new entity that will own the Keystone oil pipeline.
READ MORE
Trican Well Service sold its entire US-based pressure pumping business to the US’ Keane Group, the Canadian company announced on Tuesday.
The USD 285 million deal…
READ MORE
Husky Energy cut C$800 million (USD 549 million) from its 2016 budget and will scale back production guidance by around 15,000 boepd, the Canadian petroleum company…
READ MORE
Suncor Energy struck a USD 6.6-billion deal with Canadian Oil Sands for a takeover of shares, the Calgary-based energy companies reported in a joint statement…
READ MORE
Enerplus Corporation is selling a number of its Alberta natural gas assets for about USD 193 million, the Canadian independent reported on Monday.
The properties…
READ MORE
TransCanada plans to sue the US government after President Barack Obama did not approve the company’s request for a permit to build the Keystone XL pipeline, the…
READ MORE
Talisman Energy has decided to ditch its name for Repsol Oil & Gas Canada, the Canadian oil producer announced in a statement Monday.
The change in name has…
READ MORE
The environmental impact assessment for the planned Pacific Northwest LNG export facility in British Columbia will resume after a six-month pause.
The USD…
READ MORE
Canada’s Husky Energy announced plans Tuesday to sell part of its midstream business and cut capital spending in its Alberta operations, citing the oil price slump.…
READ MORE
President director of IndrillCo Group Mohamad Bawazeer discusses the economics of shale gas development, the challenges to fabricating rigs locally and potential areas…
READ MORE
Shell received two fines on Tuesday for separate incidents involving leaks in the Canada and the UK.
The Ontario government ordered the super-major’s local…
READ MOREWHOSE PLATFORM IS THIS?
ASK US
