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The company is also investing in the Foster Creek optimization project to expand its oil sands production. The Canadian firm forecast downstream throughput for 2025 between 650,000 and 685,000 ...
Canadian conventional oil production peaked in 1973, but oil sands production is forecast to increase until at least 2020 US oil production (crude oil only) and Hubbert high estimate. Mexican production peaked in 2004 and is now in decline
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.
The revised forecast predicted that Canadian oil sands production would continue to grow, but at a slower rate than previously predicted. There would be minimal changes to 2008–2012 production, but by 2020 production could be 300,000 barrels per day (48,000 m 3 /d) less than its prior predictions.
Suncor's Base Mine is a key part of the company's operations in northern Alberta, producing around 200,000 barrels per day (bpd) of bitumen used to feed upgraders at its oil sands base plant that ...
The European Union's recent estimates that Canada's oil sands produce 22% more greenhouse gases (GHGs) than conventional crude have sent both sides into a war of words. Current and future 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. [49] This proportion was (as of 2008) expected to increase in coming decades as bitumen production grows while conventional oil production declines, although due to the 2008 ...
When it comes to Canadian oil sands, there has been one direction that many a company has followed: toward the exit. Tough economics, as well as a lack of sufficient takeaway capacity, has made ...