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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Suncor Energy formally placed a $3.3-billion bid to acquire investment company Canadian Oil Sands. Suncor’s intention is to boost production in Alberta, the company…
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Canada’s National Energy Board (NEB) has approved local energy company Steelhead LNG’s exports proposals, the company announced via Friday press release.
Steelhead…
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Spain’s Repsol is laying off 1,500 people over the next three years, company spokesman Kristian Rix wrote in an email to press.
It was not made clear which sectors…
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WorleyParsons has won a contract to carry out fabrication, assembly and construction for the Cutbank Ridge Partnership Program’s 03-07 Tower Sweet Gas Plant Project in…
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Total has announced it will “reduce its exposure” to Canadian oil sands operations in the context of low crude prices.
The company said on Monday that it has…
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Petrofac Kuwait country manager Mohammad Al Fahoum talks to TOGY about gas opportunities in Kuwait, international technology trends affecting the country’s expansion…
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Samer Adham, managing director of ConocoPhillips’ Global Water & Sustainability Center (GWSC), talks to TOGY about the importance of produced water treatment and…
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Seadrill has cancelled its contract with South Korean shipbuilding company Hyundai Heavy Industries for the construction of the semi-submersible West Mira due to…
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Australian exploration and production company Woodside is in talks to acquire Oil Search, the largest producer in Papua New Guinea, for a reported AUD11.6 billion…
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On Sunday, the Chinese National Offshore Oil Corporation (CNOOC) has been permitted to maintain three-quarters production at its Long Lake oil sands facility in…
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