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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Calima Energy has encountered gas in a vertical well in the onshore Montney Formation in Canada, the Australian company announced on Tuesday.
The Calima-1 well has…
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ExxonMobil has frozen plans to build an LNG export terminal in Canada’s British Colombia province, international media reported on Thursday.
The terminal was…
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Canada has prepared a CAD 1.6-billion (USD 1.19-billion) programme to support the domestic oil and gas industry, the country’s minister of natural resources announced…
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Oil prices edged up on Monday morning in Asia amid expectations that de-facto OPEC leader Saudi Arabia will urge the organization and its allies to slash supply to…
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BHP has won 100% stakes in blocks 8 and 12 in the Orphan Basin offshore Canada, the company announced on Thursday.
The news came a day after Equinor announced…
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Krishna Persad, founder and CEO of the KPA Group, talks to TOGY about the geology of Trinidad and Tobago and the region, the country’s hydrocarbons profile, and…
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Oil prices inched down on Monday morning in Asia, despite a bounce in the region’s stock markets. Investors remained cautious after a sell-off last week that could…
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Sultan Al Burtmani, acting executive managing director of Oman Gas Company (OGC), talks to TOGY about integrating the gas network with upstream and downstream projects…
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A large explosion occurred at Irving Oil’s Saint John refinery in the Canadian province of New Brunswick, international media reported Monday.
Several refinery…
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Fluor Corporation and JGC Corporation have won a USD 14-billion engineering, procurement, fabrication and construction contract for the LNG Canada project, the US EPC…
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