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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As an established global petrochemicals exporter, Trinidad is well positioned to take the lead as a green commodity producer.
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Baker Hughes will supply a range of electric-driven liquefaction technologies to the Cedar LNG project in Canada.
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Canada's energy minister has said the country will not subsidise future LNG projects, calling such investments the "role of the private sector."
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Malaysia's Petronas is eyeing new investments in the Atlantic Basin in a bid to boost its global LNG market share to 10%.
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Cenovus Energy, Canada's third-largest oil producer, plans to raise its overall production by 19% in the coming five years.
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Braya Renewable Fuels has launched renewable diesel production at its refinery in Newfoundland and Labrador, Canada.
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Chevron has voluntarily relinquished the last oil and gas development permits off Canada's Pacific Coast.
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Worley will provide field construction services for Imperial Oil's in-pit tailings infrastructure project at Alberta's Kearl oil sands facility.
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ConocoPhillips has posted a profit of USD 3 billion in Q4 2023, down 7.5% from the previous year.
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Equinor has sent enquiries related to the restart of its stalled Bay du Nord oil project offshore Canada’s Atlantic coast, Upstream Online reported on Monday.
The…
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