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
ConocoPhillips’ oil sands mega-project Surmont-2 in northeastern Alberta began producing oil on Wednesday, the company announced.
Production over the next two…
READ MORE
Canadian oil and natural gas production company Penn West has been forced to lower its capital expenditure to $500 million in response to low crude prices, the…
READ MORE
More than 75 percent of the daily output from Canada’s oil sands is being produced at a loss under current crude prices, according to Canadian investment firm TD…
READ MORE
The US-Canadian Alliance Pipeline, which transports about 45.3 mcm (1.6 bcf) of gas per day, reopened Thursday after having been shut down for six days due to the…
READ MORE
KBR has been awarded a contract for work on Suncor Energy’s Fort Hills oil sands mining project in Alberta, Canada. The contract will see the Houston-based company…
READ MORE
Two North American onshore drilling rig operators released positive outlooks on Thursday, despite both companies posting net losses for the second quarter of 2015.…
READ MORE
An estimated 5-million-litre pipeline spill of bitumen was reported Wednesday at the Nexen Long Lake oil sands development in Alberta, Canada. The area affected by the…
READ MORE
Teck Resources, a Canadian diversified mining entity, announced on July 10 that it would delay the anticipated start up of its Frontier oil sands mine by a minimum of…
READ MORE
Canadian firm Pacific Rubiales announced on Wednesday that Mexican conglomerate Alfa SAB and investment firm Harbour Energy will not go through with their plans to…
READ MORE
ExxonMobil announced today that bitumen production at its Kearl oil sands expansion project in Alberta, Canada, has begun ahead of schedule.
The expansion project is…
READ MOREWHOSE PLATFORM IS THIS?
ASK US
