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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Petronas will relocate the massive USD 27-billion LNG project on Lelu Island, British Columbia, if Canada’s government deems it necessary, the Malaysian NOC said on…
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Petronas intends to replace a contested bridge at the proposed Pacific NorthWest LNG site in Canada in order alleviate local concerns, according sources familiar with…
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Norwegian oil and gas company Statoil has inked an agreement to sell its wholly owned Kai Kos Dehseh (KKD) oil sands projects located in Alberta to Canadian energy…
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TOGY talks to Fernando Meiter, associate consultant at Gas Energy Latin America, about the concerns of foreign companies looking to invest in Argentina and the regional…
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Environmentalists and aboriginal activists said Wednesday they would sue to halt Malaysian state energy company Petronas’ USD 27.2-billion Pacific NorthWest LNG…
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Dakota Access announced on Monday a USD 100,000 reward for information about the perpetrators of the latest act of sabotage against the project, which took place over…
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A group of radical environmentalists was able to temporarily shut down five major oil pipelines hundreds of miles apart, including the TransCanada Keystone pipeline, on…
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The Canadian government approved plans late on Tuesday for the construction of an LNG liquefaction and export terminal in British Colombia, ending a three-year wait for…
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The global glut shows little signs of easing, the International Energy Agency (IEA) signalled in its report on Wednesday, pointing to the increase in floating storage…
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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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