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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A group of ex-senior executives and recent retirees in southwest Ontario—including the founding chairman of the transformative Alberta Oil Sands Technology and Research Authority (AOSTRA)—are launching plans to develop a bitumen upgrader in the Sarnia-Lambton region. In late August the ...Read the full story
Cenovus Energy Inc. says it is concentrating on finding new customers in North America and around the world and working to ensure it has the ability to move its oil to these customers. It has also added new expertise to ...Read the full story
The regulatory review process for Teck Resources Limited’s proposed Frontier oilsands mining project is expected to continue into 2015, making late 2015 or 2016 the earliest an approval decision and receipt of required permits is expected, the company says. The ...Read the full story
While there has been an increase in financing activity for conventional oil producers, demonstrated success is required before small oilsands players will get the attention of equity markets, a recent energy conference heard. “The proof is in the pudding,” said ...Read the full story
Carbon capture is a costly business, but commercializing the process is seen as a key piece of the environmental and economic structure enabling continued heavy oil and oilsands growth. As producers evaluate different methods, Husky Energy Inc. is embarking on ...Read the full story