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This is a list of articles related to Canadian oil sands: Athabasca oil sands; Black Bonanza; BP § Canadian oil sands; Canadian Centre for Energy Information; Canadian oil sands (disambiguation) Climate change in Canada; Cold Lake oil sands; Environmental impact of mining; History of Alberta § oil sands; History of the petroleum industry in ...
Canadian oil sands may refer to: Athabasca oil sands. Peace River or Cold Lake where other bitumen deposits are located; Fort McMurray where the industry is located;
As of 2009, Syncrude and Irving Oil were leaders in the Canadian industry, with Syncrude being the top producer of oil sands crude and Irving Oil operating the largest oil refinery in the country. [5] Canadian oil company profits quickly recovered following the 2008 financial crisis; In 2009 they were down 90% but in 2010 they reached $8.4 billion.
In 1962 (the same year the Great Canadian Oil Sands proposal went up for approval) Cities Service Athabasca Inc. proposed a 16,000 cubic metre per day plant at the site of its Mildred Lake pilot project. Including a pipeline to Edmonton, the plant was to cost $56 million, with construction beginning in 1965 and completion in 1968.
The Athabasca oil sands is the only large oil field in the world suitable for surface mining, while the Cold Lake oil sands and the Peace River oil sands must be produced by drilling. [14] With the advancement of extraction methods, bitumen and economical synthetic crude are produced at costs nearing that of conventional crude.
Bituminous sands are a major source of unconventional oil, although only Canada has a large-scale commercial oil sands industry. In 2006, bitumen production in Canada averaged 1.25 Mbbl/d (200,000 m 3 /d) through 81 oil sands projects. 44% of Canadian oil production in 2007 was from oil sands. [47]
This would mean that Canadian oil sands production would grow from 1.2 million barrels per day (190,000 m 3 /d) in 2008 to 3.3 million barrels per day (520,000 m 3 /d) in 2020, and that total Canadian oil production would grow from 2.7 to 4.1 million barrels per day (430,000 to 650,000 m 3 /d) in 2020. [45]
It specializes in production of synthetic crude from oil sands. In the 2020 Forbes Global 2000, Suncor Energy was ranked as the 48th-largest public company in the world. [4] Suncor was created by Sun Oil in 1979 by the merger of its Canadian conventional and heavy oil companies, the Sun Oil Company and Great Canadian Oil Sands.