article thumbnail

IHS Markit: Canadian oil sands production exceeds pre-pandemic levels, but lower than prior projections

Green Car Congress

Canadian oil sands production has fully recovered from last year’s “COVID-19 Shock”—the largest contraction of upstream production in Canadian history—and has exceeded pre-pandemic levels. The latest forecast by the IHS Markit Oil Sands Dialogue expects Canadian oil sands production to reach 3.6

Oil-Sands 170
article thumbnail

IHS Markit: small long-term change for Canadian oil sands despite COVID-19 Shock & largest annual production decline in 2020

Green Car Congress

Canadian oil sands production is expected to decline by nearly 175,000 barrels per day (b/d) in 2020 as a result of COVID-19—the largest annual decline on record. The new forecast by the IHS Markit Oil Sands Dialogue , which takes into account the “COVID-19 shock,” projects Canadian oil sands production to reach 3.8

Oil-Sands 221
article thumbnail

IHS Markit: Canadian oil sands production to be ~1M barrels higher by 2030 but with lower annual growth; boosted by deterioration in Venezuela

Green Car Congress

Canadian oil sands production is set to enter a period of slower annual production growth compared to previous years. Large scale oil sands projects take two, three, four or more years to be brought online and so the reality of a slower pace of investment and growth in the Canadian oil sands is taking shape.

Oil-Sands 170
article thumbnail

China’s CNOOC to acquire Canada-based Nexen for $15.1B; offshore oil and gas, oil sands, and shale gas

Green Car Congress

CNOOC Limited—China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world—is acquiring all of the Common Shares of Canada-based energy company Nexen Inc. The price represents a premium of. billion cash.

Oil-Sands 325
article thumbnail

CAPP forecasts oil sands development still drives steady Canadian oil production growth to 2030

Green Car Congress

However, the new forecast represents a slowing of future oil sands production growth compared to the predictions of last year’s forecast. According to CAPP’s 2014 Crude Oil Forecast, Markets and Transportation , total Canadian crude oil production will increase to 6.4 CAPP forecast. Click to enlarge. In 2013, 1.9

Oil-Sands 199
article thumbnail

Researchers propose framework for CCS infrastructure optimization to reduce GHG emissions from oil sands extraction and processing

Green Car Congress

CCS infrastructure for six key CO 2 emission prices. The width of the pipeline network (green lines) is proportional to CO 2 flow; the largest CO 2 flow is approximately 36 MtCO 2 / yr for the $155/tCO 2 scenario (pipeline leaving the Athabasca oil sands area). Sources are red and sinks are blue. Costs are in $US 2011.

Oil-Sands 225
article thumbnail

Average carbon intensity of oil sands production has dropped ~36% in last 40 years; still 12-24% higher than conventional oil CI

Green Car Congress

The carbon intensity (CI) of Alberta oil sands production has significantly decreased over the last 40 years, according to a new study by a team from Stanford University published as an open access paper in the journal Environmental Research Letters. the Shell Quest project) could result in significant reductions in oil sands CI.

Oil-Sands 210