Crude Oil Price Crash Slows the Production Growth

“H2 2016 Production and Capital Expenditure Outlook for Key Planned Upstream Projects for Canadian Oil Sands”

Key Highlights of the Canadian Oil Sands Industry

In the short term, oil sands production will grow, although at a slower pace than estimated prior to the crash in commodity prices during the fourth quarter 2014. This growth is supported by the size of the resource, the well-established and developed industry in Alberta, and the relatively secure demand for Heavy Crude Oil (HCO) in the refining market of the US.

Most of the planned oil sands projects for the period 2016–2025 will be expansion phases of producing projects. Of the key 17 planned oil sands projects considered in the report, 11 are expansions and six are new projects. While the reserve base could potentially support a large number of future projects, key planned projects detailed in the report fall within the next five years, 2016 to 2021.

canadian-sands-oil

GlobalData’s latest report “H2 2016 Production and Capital Expenditure Outlook for Key Planned Upstream Projects for Canadian Oil Sands – Crude Oil Price Crash Slows the Production Growth” provides an annual breakdown of count and production of key planned Canadian oil sands projects from 2016 to 2025. It includes capital and operating expenditure for key planned Canadian oil sands projects by operators and details of the major planned and announced Canadian oil sands projects up to 2025.

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