Due to rapid technological developments in the exploration and production of oil sands, Canada has emerged as the world’s fourth largest producer of crude oil, behind the US, Russia and Saudi Arabia in 2018. With further improvements in technology and extraction processes, the oil sands industry could prove to be a major growth driver for the Canadian economy, as the global demand for crude oil is expected to grow, particularly in Asia, the Canadian Oil Sands industry will continue to attract investments from all over the world.
Oil sands are rich sources of bitumen, an extra-heavy hydrocarbon that can be extracted using unconventional techniques, such as, surface mining and in-situ extraction. As these processes are energy intensive, consume large volumes of water and result in emission of greenhouse gas in high volumes, they are attracting severe criticism from environmentalists around the world.
This has prompted organizations from the oil and gas, and financial services industries, such as Equinor, Marathon Oil, Axa and HSBC to withdraw or curtail their involvement in projects associated with oil sands. In addition, pipeline capacity constraints and setbacks in construction of new pipelines could impact further progress of the oil and gas industry in Canada.
Nevertheless, considering the overall complexity of the oil sands extraction process, global prices for crude oil will have to remain at comparatively higher levels to ensure profitability from oil sands projects.
The latest thematic report, "Oil Sands - Thematic Research", reveals that backed by favorable government policy initiatives, oil sands production accounted for 67% of total crude oil production of Canada in 2018. The research report also identifies companies such as Suncor Energy Canadian Natural Resources Ltd. (CNRL), Cenovus Energy, Imperial Oil (ExxonMobil) and Enbridge as the leading players in the oil sands industry in Canada.
- The report analyses the impact of oil sands as a theme on the oil & gas industry.
- The report discusses how oil and gas industry in Canada is benefiting from the development of oil sands reserves.
- The report evaluates the two major modes of oil sands extraction presently adopted in the oil sand industry.
- The report also analyses how oil and gas companies are focusing on improving the technologies and processes for extracting oil sands.
Reasons To Buy
- To understand the major trends in the oil sands industry.
- The report provides an insight on the oil sands industry analysis, explaining the developments happening across Canadian Oil Sands as well as in other parts of the world.
- The report explores the value chain for oil sands industry, highlighting the role played by different entities in the ecosystem
- To gain an outlook on the major deals undertaken by oil and gas companies across various sectors in the oil sands theme
- To identify and benchmark the key companies across various segments in the oil sands theme.