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
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
Join IBM November 2 at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how to go beyond multi-speed it to bring agility to traditional enterprise applications. Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls ...
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
Did you know that you can develop for mainframes in Java? Or that the testing and deployment can be automated across mobile to mainframe? In his session at @DevOpsSummit at 20th Cloud Expo, Vaughn Marshall, Sr. Principal Product Owner at CA Technologies, will discuss and demo how increasingly teams are developing with agile methodologies using modern development environments and automating testing and deployments, mobile to mainframe.
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search an...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
SYS-CON Events announced today that Twistlock, the leading provider of cloud container security solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Twistlock is the industry's first enterprise security suite for container security. Twistlock's technology addresses risks on the host and within the application of the container, enabling enterprises to consistently enforce security policies, monitor...
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
@ThingsExpo has been named the Most Influential ‘Smart Cities - IIoT' Account and @BigDataExpo has been named fourteenth by Right Relevance (RR), which provides curated information and intelligence on approximately 50,000 topics. In addition, Right Relevance provides an Insights offering that combines the above Topics and Influencers information with real time conversations to provide actionable intelligence with visualizations to enable decision making. The Insights service is applicable to eve...