- There are 173 billion bbls of proven oil reserves in Canada.
- The oilsands hold 167 billion bbls of Canada’s total crude oil reserves.
- Canadian crude oil production is expected to increase to 6.4 million bpd to 2030.
- The oilsands are driving oil production growth however, bitumen upgrading is not likely to increase with production due to economic challenges.
- There are currently five bitumen upgraders in Alberta.
- Oilsands production is expected to increase to 4.8 million bpd by 2030.
- Multiple domestic and global markets are showing increasing interest in crude oil from Western Canada.
- Production in Eastern Canada is currently stable but is expected to decrease by 2030.
- At the moment crude production in Western Canada is at 1.3 million bpd.
- Crude production in Western Canada is expected to increase to 1.5 million bpd by 2030.
- By 2030, condensate production is expected to account for 170 000 bpd.
- To 2030, average annual growth of oilsands production is expected to be 170 000 bpd.
- Oilsands mining is expected to increase to 1.6 million bpd to 2030.
- Insitu oilsands production is expected to increase to 3.2 million bpd to 2030.
- Eastern Canada accounted for 7% of total crude oil production in Canada last year.
- 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.
- 90% of crude oil requirements at refineries in Quebec and Atlantic Canada are imported.
- Ontario refineries have moved their main source of crude oil feedstocks to Western Canada.
- Canada is the top foreign supplier of crude oil to the US.
- US Gulf Coast refineries are forecast to be supplied with 680 000 bpd of crude oil from Canadian producers by 2020.
- CAPP expect the US Midwest to remain Canada’s largest export market.
- Canadian crude oil supplied to refineries in Washington and California is expected to double to 392 000 bpd.
- 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 oilsands crude was sent to Spain for processing in Spanish refineries.
- Pipelines are the main mode of transportation for crude oil in Canada.
- There are currently four major pipelines in Canada.
- Rail is increasingly becoming a popular choice for crude oil transportation in Canada by producers.
- The long term viability of rail is due to its flexibility to deliver to multiple destinations.
- By 2016, CAPP forecast that approximately 700 000 bpd of crude oil could be transported to markets by rail.
Source: CAPP report.
Adapted by Claira Lloyd
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/05082014/capp-crude-oil-canada/