Naperville, IL -- (SBWIRE) -- 01/15/2013 -- Oil Sands Industry in Canada - Market Analysis, Competitive Landscape and Production Forecasts to 2020 is the latest report from . The report provides an overview of the oil sands industry in Canada and analyses some of the major drivers and challenges, project economics of oil sands projects, historic and projected bitumen and synthetic crude production, some of the major existing and planned oil sands projects, financial deal activity, and the competitive landscape in the industry.
The report has been compiled using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis by team of industry experts.
Canada is one of the largest countries in the world in terms of proved oil reserves and was ranked third in the world in terms of proved oil reserves at the end of 2011. It had 175.2 billion barrels (bbl) of proved oil reserves at the end of 2011, of which 169.2 billion bbl of reserves were available as oil sands. This is expected to play a major role in ensuring the world’s future energy security.
This report analyzes the oil sands industry in Canada, including major drivers and challenges, competitive landscape and forecasts to 2020. The report primarily focuses on -
- Drivers and challenges in the oil sands industry
- Key existing and planned oil sands projects in Canada
- Bitumen and synthetic crude production and forecasts until 2020
- Heavy oil upgrader capacity and forecasts until 2020
- Financial deal activity
- Key companies
Canada Oil Sands Continue to Gain Global Attention
Canada holds the largest crude oil deposits outside the Middle East, most of which are in the form of oil sands, and are expected to play a major role in supplying the world’s future energy requirements, states a new report by energy experts .
The new research* states that Canada is one of the leading countries in the world in terms of proved oil reserves, with 175.2 billion barrels (bbl) of proved oil reserves at the end of 2011, out of which 169.2 billion bbl of reserves were available as oil sands. Development of the oil sands industry in Canada will continue to be spurred on by the continuous growth of global oil demand and high crude oil prices, as oil sands projects once seen as economically unviable are now being considered profitable. The favorable business and political climate in Canada, and continuous technological advancements are also set to support industry growth.
Oil sands are essentially bitumen, an extra-heavy crude oil, mixed with sand, water, and clay, or other minerals. Bitumen is so viscous that it cannot be pumped or flow without heating or dilution, and needs treatment before undergoing processing in refineries.
Production from the Canadian oil sands industry is expected to increase in the future, due to the start of new projects, and the development of technologies which will enable enhanced oil sands processing. Substantial financial activity is taking place in the market, with several companiesmaking investments. The industry also saw the announcement ofa significant acquisition in 2012 –the acquisition of NexenInc by China’s CNOOC Ltd for $15.1 billion – which reflected a global interest held in Canada’s unconventional oil assets. Syncrude, the largest oil sands project in Canada, is also expected to undergo expansion by 2018, and Fort Hills is one of the largest planned oil sands projects, with a capacity to produce 160,000bbl/d by 2016.
The huge oil sands reserves in Canada will contribute towards global energy security. Canada is already the largest supplier of crude oil and petroleum products to the US, accounting for nearly 25% of US crude oil and petroleum imports in 2011. International Oil Companies (IOCs) can currently access only one in six barrels of the world’s known oil reserves, and approximately half of these reserves are available in Canada as oil sands deposits. Canada therefore could play a substantial role in ensuring future global energy security.
However, the development of oil sands in Canada is attracting criticism due to several issues such as high water use and Greenhouse Gas (GHG) emissions.
The oil sands industry in Canada produced approximately 408.2 million barrels (MMbbl) of bitumen and synthetic crude in 2006, growing at an Average Annual Growth Rate (AAGR) of 7.1% to reach 581.9 MMbbl in 2011. Production is expected to increase to 1,157.8 MMbbl by 2020.
Reasons to buy
This report will enhance your decision-making capabilities by allowing you to -
- Identify some of the key drivers and challenges for the oil sands market in Canada
- Gain an insight into historic bitumen and synthetic crude production and forecasts until 2020
- Understand the project economics in the oil sands industry based on yearly capital expenditure and operational expenditure
- Gains an insight into the financial deal activity of the oil sands industry in recent years
- Understand the key companies in Canada’s oil sands industry
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