Click here to close now.




















Welcome!

News Feed Item

CAPP Crude Oil Forecast: Oil Sands Development Drives Steady Canadian Oil Production Growth to 2030

CALGARY, ALBERTA -- (Marketwired) -- 06/09/14 -- Canadian oil production is projected to grow steadily by an annual average of four per cent or 175,000 barrels per day over the period to 2030 as companies continue to develop the oil sands in response to strong demand indications from North American and global energy markets.

According to CAPP's 2014 Crude Oil Forecast, Markets and Transportation, total Canadian crude oil production will increase to 6.4 million barrels per day by 2030 from 3.5 million barrels per day in 2013.

"Global demand for oil continues to increase and Canada's large reserves make it an attractive supply source for markets in the United States and beyond," said CAPP vice-president Greg Stringham. "Connecting Canadian supplies to these markets, safely and competitively, remains a key priority for our industry."


----------------------------------------------------------------------------
                 Canadian Crude Oil Production (million b/d)
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                                        2013    2015    2020    2025    2030
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Western Canada                           3.2     3.7     4.6     5.6     6.4
----------------------------------------------------------------------------
  Conventional                           1.3     1.4     1.5     1.5     1.5
----------------------------------------------------------------------------
  Oil Sands                              1.9     2.3     3.2     4.1     4.8
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Eastern Canada                           0.2     0.2     0.3     0.2     0.1
----------------------------------------------------------------------------
Total (i)                                3.5     3.9     4.9     5.7     6.4
----------------------------------------------------------------------------
(i)Totals may not add due to rounding
----------------------------------------------------------------------------

As oil production increases, more transportation capacity is required to transport products to new and existing markets. Several projects are at various stages in the regulatory process and others are being considered. They include pipelines to the east and west in Canada and south to the United States. The projected growth in production is dependent on expansion of transportation capacity to a portfolio of market opportunities.

While pipelines remain the primary transportation mode for large crude oil volumes over long periods of time, delay in the regulatory process for Keystone XL has provided the impetus for additional capacity from railways, barges, and tankers in the transportation mix. With the construction of new loading and unloading facilities, existing rail lines provide flexibility to deliver to multiple destinations.

Over the full forecast period to 2030, oil sands remain the primary growth driver with production growth to 4.8 million barrels per day. Conventional oil production in Western Canada, including condensates, remains stable at 1.5 million barrels per day and Eastern Canadian offshore production declines to about 90,000 barrels per day.

Conventional oil production continues to reverse its previous long decline because of the continuing use of horizontal and multi-fracturing drilling techniques. Increased drilling in liquids-rich areas has also reversed a declining production trend for condensates, a light oil often used as diluent in the oil sands. In Eastern Canada, three recent discoveries in the Flemish Pass Basin may lead to increased projections for the region in future CAPP forecasts.

For comparison, CAPP's 2013 forecast estimated total production in 2030 at 6.7 million barrels per day, oil sands production at 5.2 million barrels per day, and conventional production at 1.4 million barrels per day. During the early part of the forecast period the two forecasts are very similar, with production from current projects and projects under construction being relatively firm. However, the latter part of the forecast is more dependent on new growth projects. While the overall trends in the two forecasts are consistent , the difference between the two forecasts later in the period primarily reflects increasing uncertainty regarding project timing related to cost competitiveness and capital availability. These impacts are more evident in proposed oil sands projects near the end of the forecast period.

CAPP's annual forecast is developed from oil producer survey data and CAPP analysis of historical trends, expected drilling activity, recent announcements and ongoing discussions with industry stakeholders and government agencies. CAPP does not forecast oil prices. The full report is available at www.capp.ca/forecast.

The Canadian Association of Petroleum Producers (CAPP) represents companies, large and small, that explore for, develop and produce natural gas and crude oil throughout Canada. CAPP's member companies produce about 90 per cent of Canada's natural gas and crude oil. CAPP's associate members provide a wide range of services that support the upstream crude oil and natural gas industry. Together CAPP's members and associate members are an important part of a national industry with revenues of about $110 billion a year. CAPP's vision is to enhance Canada's prosperity by enabling responsible growth of Canada's upstream oil and gas industry.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
WSM International, the pioneer and leader in server migration services, has announced an agreement with WHOA.com, a leader in providing secure public, private and hybrid cloud computing services. Under terms of the agreement, WSM will provide migration services to WHOA.com customers to relocate some or all of their applications, digital assets, and other computing workloads to WHOA.com enterprise-class, secure cloud infrastructure. The migration services include detailed evaluation and planning...
Cloud and datacenter migration innovator AppZero has joined the Microsoft Enterprise Cloud Alliance Program. AppZero is a fast, flexible way to move Windows Server applications from any source machine – physical or virtual – to any destination server, in any cloud or datacenter, using its patented container technology. AppZero’s container is also called a Virtual Application Appliance (VAA). To facilitate Microsoft Azure onboarding, AppZero has two purpose-built offerings: AppZero SP for Azure,...
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
In 2014, the market witnessed a massive migration to the cloud as enterprises finally overcame their fears of the cloud’s viability, security, etc. Over the past 18 months, AWS, Google and Microsoft have waged an ongoing battle through a wave of price cuts and new features. For IT executives, sorting through all the noise to make the best cloud investment decisions has become daunting. Enterprises can and are moving away from a "one size fits all" cloud approach. The new competitive field has ...
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so the...
Everyone talks about continuous integration and continuous delivery but those are just two ends of the pipeline. In the middle of DevOps is continuous testing (CT), and many organizations are struggling to implement continuous testing effectively. After all, without continuous testing there is no delivery. And Lab-As-A-Service (LaaS) enhances the CT with dynamic on-demand self-serve test topologies. CT together with LAAS make a powerful combination that perfectly serves complex software developm...
The Internet of Things is in the early stages of mainstream deployment but it promises to unlock value and rapidly transform how organizations manage, operationalize, and monetize their assets. IoT is a complex structure of hardware, sensors, applications, analytics and devices that need to be able to communicate geographically and across all functions. Once the data is collected from numerous endpoints, the challenge then becomes converting it into actionable insight.
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and a...
Enterprises can achieve rigorous IT security as well as improved DevOps practices and Cloud economics by taking a new, cloud-native approach to application delivery. Because the attack surface for cloud applications is dramatically different than for highly controlled data centers, a disciplined and multi-layered approach that spans all of your processes, staff, vendors and technologies is required. This may sound expensive and time consuming to achieve as you plan how to move selected applicati...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
This Enterprise Strategy Group lab validation report of the NEC Express5800/R320 server with Intel® Xeon® processor presents the benefits of 99.999% uptime NEC fault-tolerant servers that lower overall virtualized server total cost of ownership. This report also includes survey data on the significant costs associated with system outages impacting enterprise and web applications. Click Here to Download Report Now!
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Trel...