Canada to boost crude oil production 75% by 2035
In respect with the rising the demand in North America and in Asia, Canada sees the opportunity to target a volume of production of 5.8 million barrels per day (b/d) in 2035.
On the same period, Canada itself should see its own consumption increasing by 28% according to NEB prospective studies.
Even though the overall energy efficiency in Canada should improve by 20% in respect with the GDP, the shift of the power generation from coal to gas and renewable energies will contribute to increase consumption of oil and gas in absolute value.
This leap should be taken from the development of the oil sand and shale oil for which Alberta and British Columbia still hold untapped reserves.
Canada ranks in the third position behind Saudi Arabia and Venezuela for crude oil reserves estimated to 171 billion barrels.
Considering that 98% of the Canadian reserves are in oil sands, the international companies, such as ExxonMobil, Shell, Total, ConocoPhilips, and the national oil companies (NOCs) such as China National Offshore Oil Corporation (CNOOC), Eni, Petronas, Sinopec, or Statoil are mobilized to implemeny new processes to make the oil sand exploration production environmentally acceptable.
With the Eastern Provinces importing oil from USA and with Asia knocking at the door, Alberta and British Columbia have reconsidered their export strategy, no longer turned to the USA in the south but looking east and west.
In this new context, all the new projects in Canada are conditioned by the construction of pipeline projects to east and west, and oil and gas export terminals to supply the unthirsty Asia.
Nexen to anchor Aurora LNG project at Grassy Point
The Canadian Nexen Energy ULC (Nexen), acquired by China National Offshore Oil Corporation (CNOOC), and its Japanese partners Inpex Corporation (Inpex) and JGC Corporation (JGC) has signed an exclusive agreement with the Government of British Columbia in western Canada to locate its Aurora liquefied natural gas (LNG) project at Grassy Point, near Prince Rupert on the Pacific Coast.
Total to upsize Alberta Joslyn oil sand project by 50%
After making the final investment decision (FID) on the Athabasca Fort Hills oil sand project in joint venture with Suncor Energy (Suncor), the French major company Total and its partners Suncor, Occidental Petroleum (Oxy) and Inpex, are considering to revise upward the capacity of its Joslyn oil sand project in Alberta, Canada
Shell makes final decision for Carmon Creek Project
After the joint venture Suncor-Total which decided to proceed with their multibillion Fort Hills oil sands mining project in Athabasca region, Shell is making the final investment decision (FID) with its Carmon Creek oil sands project in Alberta.
Suncor to operate Athabasca Fort Hills mining project
Suncor Energy (Suncor) from Canada and its partners, Total from France and Teck Resources Ltd (Teck) from Canada, made the final investment decision (FID) to develop Fort Hills oil sands mine project in Athabasca at the northeast of Alberta, Canada.
TransCanada to fill in Energy East Pipeline application
The Canadian midstream company TransCanada is already working on filling in the application to be submitted to the Canada National Energy Board (NEB) for the regulatory approval of its Energy East Pipeline project.