Canadian Heavy Oil Fits Well With Structural Change In The Market

31/07/17 •lweb.es/f2913 •bit.ly/2fqVs7l

Output has fallen in both OPEC and non-OPEC Latin American countries leading refiners even in China to look to Alberta’s oil sands to fill the gap. This interest has boosted the price for heavy Western Canada Select, Canadian heavy oil being an easy substitute for Middle Eastern and Latin American grades. The discount for Canadian oil delivered to the U.S. storage hub in Cushing is around $5 a barrel below U.S. crude. Canadian barrels could supply refineries in Sweeney, Texas, and St. Charles, Louisiana, where Venezuela accounts for the majority of imports.

Northern Alberta’s Oil Sands Are One More Complication For OPEC

15/07/17 •lweb.es/f2885 •bit.ly/2gM8TPA

Oil sands will be second to shale as the biggest contributor to global supply growth over the next two years with half a million barrels a day of production scheduled to enter the market. The drive for efficiency, along with lower gas prices, has driven the average break-even operating cost on thermal oil sands to less than $10 a barrel from about $15 in 2014, and expanding or building a site requires a price of $50 to $60. Western Canada’s oil sands production will rise by 720,000 barrels a day to 3.12 million in 2020.

Canada’s Oil Sands: Big Energy Producers’Achilles Heel

03/02/17 •lweb.es/f2646 •bit.ly/2ocvx54

The oil-sands operations in northern Alberta are among the costliest types of petroleum projects to develop because the raw bitumen extracted from the region must be processed and converted to a thick, synthetic crude oil. These operations have been particularly hard hit by the worst oil slump in a generation. Exxon and Conoco, for example, have removed a combined 4.65 billion barrels of oil-sands crude worth $183 billion from their books. Under U.S. Securities and Exchange Commission rules, proved reserves can only include oil and gas fields that can be produced economically within the next half decade.

Canada’s Energy Future 2016: Energy Supply and Demand Projections to 2040

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iconOEF REVIEW:These are the key findings of this report on Canadian oil and energy: 1. Recent developments have highlighted numerous uncertainties for Canada’s long-term energy outlook. 2. In the Reference Case, energy production grows faster than energy use and net exports of energy increase. 3. The levels of future oil and natural gas production are highly dependent on future prices, which are subject to considerable uncertainty. 4. Without development of additional oil pipeline infrastructure, crude oil production grows less quickly but continues to grow at a moderate pace over the projection period. 5. The volume of liquefied natural gas exports is an important driver of Canadian natural gas production growth. 6. Total energy use in Canada, which includes energy use in the energy production sector, grows at similar rates in all Energy Future 2016 cases, and Greenhouse Gas emissions related to that energy use will follow similar tren

Reliability of the Athabasca River,Canada as the water source for oil sands mining

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icon Risk assessment in the oil sands industry should consider the repeated decadal droughts that are a common feature of the regional hydroclimate but have not occurred since the industry was established. The long-term trends and variability in river flow examined in this paper extend beyond the Athabasca River Basin, and thus the lessons for water resource management are transferrable to watersheds across Canada’s western interior.