Canada’s oilsands is the third largest deposit of oil on earth, with reserves of approximately 168 billion barrels and potential resources of up to 1.8 trillion barrels. There are three main oilsands deposits, Athabasca, Cold Lake, and Peace River, as well as significant processing and transportation infrastructure in Alberta's Industrial Heartland.
More than $200 billion of new capital investment is expected in the oilsands between 2013-2022, in addition to ongoing spending on maintenance, repair and operations. This is one of Canada's most dynamic and important industries.
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Most, if not all, crude oil that would be transported via the proposed Keystone XL pipeline to the United States Gulf Coast would not be exported, and the vast majority of refined product (about 70 per cent) derived from it ...Read the full story
Canadian oil production will expand by 810,000 barrels per day to just under five million barrels per day by 2020, according to a new International Energy Agency outlook, but low oil prices are hitting its main source for growth — ...Read the full story
Although many oilsands developers are cutting capital budgets, projects well underway will not only survive current and expected low oil prices but will see their costs fall while smaller, nascent projects are delayed and deferred, say industry analysts. There’s no ...Read the full story
An internationally respected University of Alberta (U of A) forest monitoring expert is devleoping high-tech tools to minimize the impact of oilsands development on the boreal forest. The goal is to generate a comprehensive baseline for detailed assessment of any ...Read the full story
A new cost-benefit analysis by the Canadian Energy Research Institute (CERI) that looked at building and operating a greenfield bitumen refinery in Alberta suggests there is a low likelihood of such a project breaking ground any time soon. “It would ...Read the full story