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In its last annual review of the Canadian oil sands industry, E&MJ described how the sector's participants had been handling the raft of challenges commercial, political and environmental that had impacted them over the previous 18 months. Progress is being maintained and, from a rather predatory perspective, there has been a new round of consolidation within the participants, it said. The principal beneficiary of that consolidation bout was unquestionably Suncor, which increased its holding in the Syncrude joint venture and by default its attributable bitumen production through its acquisition of Canadian Oil Sands Ltd and Murphy Oil's stake in the joint venture. All the same, the ownership realignments do not seem to have slowed the growth in oil sands output. According to data from the Canadian Association of Petroleum Producers, production of bitumen and upgraded crude oil in 2016 rose slightly to reach a total of 2.4 million barrels per day (bbl/d), of which 1.028 million bbl/d were won from mining operations and 1.372 million bbl/d using in-situ recovery techniques.
In its last annual review of the Canadian oil sands industry, E&MJ described how the sector's participants had been handling the raft of challenges commercial, political and environmental that had impacted them over the previous 18 months. Progress is being maintained and, from a rather predatory perspective, there has been a new round of consolidation within the participants, it said. The principal beneficiary of that consolidation bout was unquestionably Suncor, which increased its holding in the Syncrude joint venture and by default its attributable bitumen production through its acquisition of Canadian Oil Sands Ltd and Murphy Oil's stake in the joint venture. All the same, the ownership realignments do not seem to have slowed the growth in oil sands output. According to data from the Canadian Association of Petroleum Producers, production of bitumen and upgraded crude oil in 2016 rose slightly to reach a total of 2.4 million barrels per day (bbl/d), of which 1.028 million bbl/d were won from mining operations and 1.372 million bbl/d using in-situ recovery techniques.
Consolidation Continues; Output Rises
Simon Walker (Autor:in)
2017
Aufsatz (Zeitschrift)
Englisch
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