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…
READ MORE
EDF has agreed to sell its renewable energy business in the US and Canada to private equity firm KKR.
READ MORE
Murphy Oil has announced that its Bubale-1X exploration well offshore Côte d’Ivoire has encountered 30 metres of net oil pay.
READ MORE
Newmont has secured approvals for the expansion of the Red Chris gold and copper mine in British Columbia.
READ MORE
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.
READ MORE
ADNOC will explore upstream and LNG opportunities in Canada through its international investment arm, XRG.
READ MORE
Fluor and JGC have received limited notice to proceed on LNG Canada’s Phase 2 expansion to double liquefaction capacity.
READ MORE
Canada’s Scotiabank is one of the few banks globally that specialises evenly across financial advising and large capital lending activities. Mark Ammerman,…
READ MORE
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…
READ MORE
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…
READ MORE
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…
READ MORE
Canadian exploration and production company Talisman Energy has announced layoffs of 10-15 percent of its workforce.
A company spokesperson said on Wednesday that…
READ MORE
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…
READ MORE
US President Barack Obama vetoed legislation approving TransCanada’s proposed Keystone XL pipeline Tuesday. The $8-billion project, which has been pending for six…
READ MORE
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…
READ MORE
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…
READ MORE
Oil and natural gas companies may cut more than $86.4 billion in capital expenditure from their 2015 budgets as a result of the falling oil prices, according to…
READ MOREWHOSE PLATFORM IS THIS?
ASK US
