KBR has been awarded a contract for work on Suncor Energy’s Fort Hills oil sands mining project in Alberta, Canada. The contract will see the Houston-based company…
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 MORETwo North American onshore drilling rig operators released positive outlooks on Thursday, despite both companies posting net losses for the second quarter of 2015.…
READ MOREAn estimated 5-million-litre pipeline spill of bitumen was reported Wednesday at the Nexen Long Lake oil sands development in Alberta, Canada. The area affected by the…
READ MORETeck Resources, a Canadian diversified mining entity, announced on July 10 that it would delay the anticipated start up of its Frontier oil sands mine by a minimum of…
READ MORECanadian firm Pacific Rubiales announced on Wednesday that Mexican conglomerate Alfa SAB and investment firm Harbour Energy will not go through with their plans to…
READ MOREExxonMobil announced today that bitumen production at its Kearl oil sands expansion project in Alberta, Canada, has begun ahead of schedule.
The expansion project is…
READ MOREShell Canada, the local subsidiary of Anglo-Dutch multinational Shell, received approval today from Canada’s Ministry of Environment to drill offshore Nova…
READ MORECanada’s Scotiabank is one of the few banks globally that specialises evenly across financial advising and large capital lending activities. Mark Ammerman,…
READ MOREA 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 MOREAn 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…
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