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S&P Global Commodity Insights raises 10-year production outlook for Canadian oil sands

Green Car Congress

Higher crude prices and continued optimization improvements have driven the first upward revision to the S&P Global Commodity Insights 10-year oil sands production outlook in more than half a decade. Higher oil prices have driven record returns for the Canadian oil sands.

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Shell to halt 80K bpd Carmon Creek oil sands project

Green Car Congress

Royal Dutch Shell plc will not continue construction of the 80,000 barrel per day Carmon Creek thermal in situ oil sands project located in Alberta, Canada. This decision reflects current uncertainties, including the lack of infrastructure to move Canadian crude oil to global commodity markets.

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Williams to process offgas in Canada’s oil sands; nearly 15,000 bpd of new NGL/olefins production by 2018; producer GHG reductions

Green Car Congress

Williams has signed a new long-term gas processing agreement with a Canadian oil sands producer. Williams will extract, transport, fractionate, own and market the natural gas liquids (NGLs) and olefins recovered from the offgas at the producer’s upgrader near Fort McMurray, Alberta.

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EIA projects world energy use to increase 53% by 2035; oil sands/bitumen and biofuels account for 70% of the increase in unconventional liquid fuels

Green Car Congress

World oil prices remain high in the IEO2011 Reference case, but oil consumption continues to grow; both conventional and unconventional liquid supplies are used to meet rising demand. In the IEO2011 Reference case the price of light sweet crude oil (in real 2009 dollars) remains high, reaching $125 per barrel in 2035.

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IEA: Global oil discoveries and new projects fell to historic lows in 2016 while US shale surged; “two-speed” market

Green Car Congress

Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency, which warned that both trends could continue this year. Oil discoveries declined to 2.4

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Harvard Kennedy School researcher forecasts sharp increase in world oil production capacity and risk of price collapse

Green Car Congress

World oil production capacity to 2020 (crude oil and NGLs, excluding biofuels). Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity could grow by nearly 20% from the current 93 million barrels per day to 110.6 Source: Maugeri 2012.

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Alberta moving ahead with major new oilsands refinery with carbon capture

Green Car Congress

The Alberta government has successfully negotiated contracts for two projects that will advance the upgrading and refining of oil sands bitumen to diesel fuel. It will process for market 37,500 barrels daily of Crown bitumen in addition to 12,500 barrels per day of bitumen from Canadian Natural Resources Limited (CNRL).

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