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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QatarEnergy has signed a deal with ExxonMobil for 40% interest in an offshore exploration licence in Newfoundland and Labrador in Canada, the Qatar state-owned E&P…
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Suncor Energy has announced a restructuring of ownership on its Terra Nova FPSO as part of the Canadian government’s Asset Life Extension Project to support onshore…
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Canada’s Imperial Oil will process vegetable oil into renewable diesel, the Calgary-based company announced on Wednesday.
The move would see the 191,000-bpd…
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Shell revealed plans to build a carbon capture and storage (CCS) asset in Alberta, Canada, on Tuesday.
The Polaris CCS project will connect to Shell’s Scotford…
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Australian lithium miner Orocobre will merge with rival Galaxy Resources to form the world’s fifth-largest lithium chemicals company, valued at USD 3.09…
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Canada’s main oil-producing province is set to see the nation’s fastest growth in renewable energy development from 2018 to 2023, the Canada Energy Regulator said on…
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Mahesh Patil, managing director of Horizon Group of Companies, talks to The Energy Year about the company’s approach to services provision and its recently launched…
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Oil was down ever so slightly on Friday morning in Asia, with prices holding on after a sharp rally overnight, as the rollout of Covid-19 vaccines increased hopes that…
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Oil was up on Thursday morning in Asia, with the UK’s rollout of a Covid-19 vaccine and the imminent arrival of the same vaccine in the US spurring hopes of a…
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Randall Neely, president and CEO of TransGlobe Energy Corporation, talks to TOGY about how the Egyptian government is supporting the oil and gas industry and its shift…
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