Search results
Results from the WOW.Com Content Network
The ERCB estimates that by 2017 oil sands production will make up 88% of Alberta's predicted oil production of 3.4 million barrels per day (540,000 m 3 /d). [6] The fivefold increase in oil prices from 1998 to 2007 made Canadian oil sands production profitable.
These unconventional deposits give Canada the world's third largest oil reserves, which are rivaled only by similar but even larger oil reserves in Venezuela, and conventional oil reserves in Saudi Arabia. Although Alberta has already produced over 90% of its conventional crude oil reserves, it has produced only 5% of its oil sands, and its ...
Different estimates may or may not include oil shale, mined oil sands or natural gas liquids. Because proven reserves include oil recoverable under current economic conditions, nations may see large increases in proven reserves when known, but previously uneconomic deposits become economic to develop.
(Reuters) -Three of Canada's biggest oil producers, Suncor Energy, Cenovus Energy and Imperial Oil, on Thursday projected higher production in 2025, betting on resilient demand for Canadian crude ...
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]
(Reuters) -Canadian Natural Resources said on Thursday it expects production to increase 12% and capital spending to rise 13.5% in 2025, as it bets on higher demand amid tight oil supplies.
The remaining resource estimates (after the reserves have been accounted) are likely sub-commercial and may still be under appraisal with the potential to be technically recoverable once commercially established. Natural gas is frequently associated with oil directly and gas reserves are commonly quoted in barrels of oil equivalent (BOE).
For premium support please call: 800-290-4726 more ways to reach us