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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Shell Canada, the local subsidiary of Anglo-Dutch multinational Shell, received approval today from Canada’s Ministry of Environment to drill offshore Nova…
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Canada’s Scotiabank is one of the few banks globally that specialises evenly across financial advising and large capital lending activities. Mark Ammerman,…
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A wildfire that started on Friday in northeastern Alberta edge closer to two major oil sands has doubled in size to 42,000 acres on Wednesday.
The fire has caused…
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An assessment released on Friday of Canada’s Northwest Territories Canol and Bluefish shale reserves has estimated nearly 200 billion barrels of oil. The Canol field…
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Petronas-led consortium Pacific NorthWest LNG has agreed a preliminary deal with British Columbia on taxes and royalties for a proposed C$36 billion ($30 billion) LNG…
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Canadian exploration and production company Talisman Energy has announced layoffs of 10-15 percent of its workforce.
A company spokesperson said on Wednesday that…
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The US Senate has failed to override President Barack Obama’s veto of a bill that would have cleared construction of the Keystone XL pipeline.
The result on…
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US President Barack Obama vetoed legislation approving TransCanada’s proposed Keystone XL pipeline Tuesday. The $8-billion project, which has been pending for six…
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The North Sea oil and gas industry lost £5.3 billion in 2014, the worst figure since the 1970s, according to a new report published by industry body Oil & Gas…
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TOGY looks at the story of large-scale hydrocarbons production in Peru following the 10th anniversary of production at the country’s largest gasfield, Camisea. In…
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