TotalEnergies has divested all remaining shares in local subsidiary TotalEnergies EP Canada to Canadian integrated energy company Suncor for USD 1.3 billion, the French…
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 MORETourmaline Oil has agreed to acquire local competitor Bonavista Energy for USD 1.06 billion in cash and stock, Canada’s largest gas producer announced on Monday.
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Spanish energy giant Repsol has signed an agreement to sell its Canadian upstream business to Peyto Exploration & Development Corporation for USD 468 million, the local…
READ MOREMoosa Al Moosa, president of Dow, Middle East and Turkey, talks to The Energy Year about recent developments in the global petrochemicals market and the main drivers of…
READ MOREConocoPhillips has exercised its pre-emption rights to purchase the remaining 50% interest in the Surmont oil sands project in Canada, the American energy giant…
READ MORETotalEnergies has accepted a USD 4.5-billion offer from Suncor Energy for the purchase of its oil sands assets in Canada, the French energy giant announced on…
READ MORECanada has put 47 concession areas on offer in its latest offshore oil and gas bid round in the eastern province of Newfoundland and Labrador, the Canada-Newfoundland…
READ MOREKBR has been awarded a FEED contract from Norwegian NOC Equinor for its proposed Bay du Nord FPSO located in Newfoundland, Canada, the American engineering entity…
READ MOREMarco Cota, CEO of Talanza Group, talks to The Energy Year about the group’s expertise and services and how it is working to regulate methane emissions from oil and…
READ MORECanada’s largest oil sands producers have signed an agreement with the government to begin geological evaluations for one of the world’s largest CCS projects, the…
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