Oil sands investment forecast
Oil sands production is expected to reach 4.25 million b/d by 2035 from 2.9 million b/d in 2018 – a growth rate decline of 12% from last year’s forecast. Market Access is Key Canada has an opportunity to gain global market share, replacing less sustainably produced oil sources. Conventional oil and natural gas capital investment for 2020 is forecast at $25.4 billion, up from an estimated $24.4 billion last year. Capital investment in the oil sands is forecast at $11.6 billion in 2020, up from an estimated $10.7 billion in 2019. From 2010 to 2014, global investment in tight oil, oil sands, and offshore deepwater development increased from 20% to 30% of total upstream investment. Over that same period, combined production from these resources increased by 4 million b/d, reaching 12.2 million b/d and accounting for 16% of total global crude oil production. A new report from IHS Markit’s Oil Sands Dialogue is forecasting that capital spending will drop below $10 billion this year – the first time that has happened since 2004. There is also no return to previous annual spending highs of over $30 billion in any of IHS Markit’s three outlook scenarios.
The report, prepared by Calgary-based analyst Kevin Birn, forecasts that the oil sands sector will add another one million barrels a day of production by 2030 to the more than three million it produces today. However, the growth rate will be slower than in the booming decade between 2009
Oil sands production is forecast to grow by nearly one million barrels per day (mbd) by 2025—a significant pace of growth that, though lower than historical levels, will keep Canada among the largest sources of global oil supply growth. Expenditures for Canada’s oil and natural gas sector as a whole may increase 5.4 per cent to $37 billion. Outside the oilsands, spending is projected to rise 4.1 per cent to $25.4 billion. The report, prepared by Calgary-based analyst Kevin Birn, forecasts that the oil sands sector will add another one million barrels a day of production by 2030 to the more than three million it produces today. However, the growth rate will be slower than in the booming decade between 2009 A Not So Happy New Year for the Tar Sands in 2018. Although Canada’s controversial tar sands industry celebrated a small increase in production last year, this year’s forecast is looking gloomy, as investors continue to take flight over the climate risks and the relatively low oil price means that other oil patches look more profitable. In a world with cheap oil, challenging pipeline construction, a shift toward short-cycle investment, and the combined forces of alternative energy innovation and action on climate change, the Oil sands, or tar sands, are sand and rock material which contains crude bitumen, a dense, viscous form of crude oil.Bitumen is too thick to flow on its own, so extraction methods are necessary.
In a world with cheap oil, challenging pipeline construction, a shift toward short-cycle investment, and the combined forces of alternative energy innovation and action on climate change, the
1 Mar 2020 Get access to our complete database of historical oil and gas prices, energy statistics and oil sands production data.
The Athabasca oil sands, also known as the Athabasca tar sands, are large deposits of bitumen The revised forecast predicted that Canadian oil sands production would continue to grow, but at a slower rate than previously predicted. Ottawa has avoided direct investment, preferring to improve the investment climate.
We first outline the rationale and risks associated with the oil sands investment outlook, and we then use this outlook to examine the supply chain linkages 4 Sep 2019 There are four major issues affecting the oilsands: declining price outlooks The third factor is a global reduction in oil investment and a shift toward from earlier this year, has 2040 prices forecast to be $165 (US) per barrel. 17 Dec 2019 Outlook 'brightened' for Alberta oil production, Conference Board of term as the LNG Canada project and new oilsands investment lead to an The Athabasca oil sands, also known as the Athabasca tar sands, are large deposits of bitumen The revised forecast predicted that Canadian oil sands production would continue to grow, but at a slower rate than previously predicted. Ottawa has avoided direct investment, preferring to improve the investment climate. Canadian Oil Sands Limited was a Canadian company that generates income from its oil sands investment in the Syncrude Joint Venture. to: G+M 30 Oct 2013: "Canadian Oil Sands again cuts Syncrude's output forecast"; ^ "Suncor Energy
20 Jan 2011 For those who exploit the tar sands, which contain the world's second-largest trove of oil, this is a welcome forecast. its “free oil” is in the tar sands, notes Peter Tertzakian, chief economist of Arc Financial, an investment firm.
The global Oil Sands market analysis has also given a deeper insight into the competitive landscape, recent industry trends and regional market analysis for the forecast period of 2019 to 2024. Oil sands production is expected to reach 4.25 million b/d by 2035 from 2.9 million b/d in 2018 – a growth rate decline of 12% from last year’s forecast. Market Access is Key Canada has an opportunity to gain global market share, replacing less sustainably produced oil sources. Conventional oil and natural gas capital investment for 2020 is forecast at $25.4 billion, up from an estimated $24.4 billion last year. Capital investment in the oil sands is forecast at $11.6 billion in 2020, up from an estimated $10.7 billion in 2019. From 2010 to 2014, global investment in tight oil, oil sands, and offshore deepwater development increased from 20% to 30% of total upstream investment. Over that same period, combined production from these resources increased by 4 million b/d, reaching 12.2 million b/d and accounting for 16% of total global crude oil production. A new report from IHS Markit’s Oil Sands Dialogue is forecasting that capital spending will drop below $10 billion this year – the first time that has happened since 2004. There is also no return to previous annual spending highs of over $30 billion in any of IHS Markit’s three outlook scenarios. Upstream investment in the oil sands is expected to grow to US$8.8 billion (C$11.6 billion) this year, up from an estimated US$8.1 billion (C$10.7 billion) in 2019, the industry’s main lobby The report, prepared by Calgary-based analyst Kevin Birn, forecasts that the oil sands sector will add another one million barrels a day of production by 2030 to the more than three million it produces today. However, the growth rate will be slower than in the booming decade between 2009
11 Nov 2014 Oil sands production is forecast to grow approximately 163 percent, from 1.98 million barrels per day in 2013 to 3.7 million barrels per day in