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- The CER said oil production is likely to remain resilient over the next three decades, despite relatively low oil prices and steadily more ambitious climate policies, thanks to northern Alberta's vast oil sands deposits, which account for nearly two-thirds of Canadian production.
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Oct 12, 2023 · Canada could lead the world in oil production growth in 2024. Big boost in output could be the 'last hurrah' for oilsands, says analyst. Kyle Bakx · CBC News · Posted: Oct 12, 2023 1:00 AM PDT |...
Mar 7, 2024 · Full data for 2023 is not yet available, but national production likely edged ahead by only around 50 thousand/bpd last year, or about 1%. In 2024, we estimate that Canadian oil production could advance by 6–10%, roughly equivalent to 300–500k/bpd.
Mar 7, 2024 · Canadian exports of crude oil and equivalent products also reached a record high in 2023. Steadily rising since 2021, crude oil exports totalled 230.0 million cubic metres, up 3.2% from 2022. As more Canadian crude oil was exported, stocks diminished throughout 2023.
Oct 12, 2023 · Canada could lead the world in oil production growth in 2024. The oilsands is expected to be the main source of increased oil production over the next year. Photo: La Presse canadienne / Jeff McIntosh. RCI. Posted: October 12, 2023 6:57 AM. Big boost in output could be the 'last hurrah' for oilsands, says analyst.
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The projections come at a particularly lucrative time for the industry; the five largest companies that operate in Canada's oilsands made about $35 billion in profits in 2022. But the models should be a warning for many oil and gas companies, climate experts say, calling into question the future of fossil fuel use and production in Canada. On the o...
The report shows that "we need to be careful, especially where public money is dedicated. We need to ensure that it goes to projects that are going to be competitive in the long term," said Jan Gorski, director of the oil and gas program at the Pembina Institute, an energy think-tank. "And not every project will be competitive. Some of those projec...
The CER's scenarios show electricity use increasing to power all the electric cars, building heating systems and other clean technologies that will replace fossil fuels in the lives of Canadians. And that new electricity will come from cleaner sources — with wind energy growing nearly seven to nine times its current levels by 2050. That's not surpr...
Dec 9, 2021 · Oil output in Canada, the world's fourth-largest producer, will climb over the next decade and peak at 5.8 million barrels per day in 2032, seven years sooner than previously forecast, the Canada...
Nov 24, 2023 · Canadian oil and gas producers will drill 8% more wells in 2024 to take advantage of greater access to pipelines, with the Trans Mountain oil pipeline expansion due to open, an industry group said in an annual forecast on Friday.
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