Production
- There are 173 billion bbls of proven oil reserves in Canada.
- The oil sands hold 167 billion bbls .
- Canadian crude oil production is expected to increase to 6.4 million bpd to 2030.
- Oil sands production is expected to increase to 4.8 million bpd by 2030.
- The bitumen upgrading is not likely to increase with production due to economic challenges.
- There are currently five bitumen upgraders in Alberta.
graphic courtesy: Colombia Reports
Refining
- Last year, Canadian refineries processed 905 000 bpd of crude oil from Western Canada.
- Canadian refineries have a total crude oil processing capacity of 1.9 million bpd.
Exports
- Canada is the top foreign supplier of crude oil to the US.
- Oil producing regions in Western Canada have limited access to global crude oil markets.
- Asia and Europe are showing interest in Canadian crude oil.
- It was reported that in May 2014, the first shipment of oil sands crude was sent to Spain for processing in Spanish refineries.
Transportation
- Pipelines are the main mode of transportation for crude oil in Canada.
- There are currently four major pipelines.
- Rail is increasingly becoming a popular choice for crude oil transportation.
- By 2016, CAPP forecast that approximately 700 000 bpd of crude oil could be transported to markets by rail.
(source: Energy Global & Canadian Association of Petroleum Producers)
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