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 MORECanada Overview
in figures
Oil Reserves168.1 billion barrels
Oil Production5.43 million bopd
Gas Reserves2.4 tcm
Gas Production172.3 bcm
Canada: New Frontiers in Energy
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.
SLB OneSubsea and Subsea7 have signed a long-term strategic collaboration agreement with Equinor.
READ MORECanada's USD 24.7-billionTrans Mountain Expansion (TMX) oil pipeline has begun operations.
READ MOREAs an established global petrochemicals exporter, Trinidad is well positioned to take the lead as a green commodity producer.
READ MOREBaker Hughes will supply a range of electric-driven liquefaction technologies to the Cedar LNG project in Canada.
READ MORECanada's energy minister has said the country will not subsidise future LNG projects, calling such investments the "role of the private sector."
READ MOREMalaysia's Petronas is eyeing new investments in the Atlantic Basin in a bid to boost its global LNG market share to 10%.
READ MORECanadian exploration and production company Talisman Energy has announced layoffs of 10-15 percent of its workforce.
A company spokesperson said on Wednesday that…
READ MOREThe 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 MOREUS President Barack Obama vetoed legislation approving TransCanada’s proposed Keystone XL pipeline Tuesday. The $8-billion project, which has been pending for six…
READ MOREThe 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 MORETOGY 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 MOREOil 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 MORECanadian exploration firm Questerre stated on Tuesday that two wells in the Kakwa-Resthaven region are complete. The first is in the Montney formation and benefitted…
READ MOREThe Alberta Ministry of Environment and Water and the Ministry of Sustainable Resource Development merged in April 2012, reflecting the integrated approach that the…
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