Insight
Canada oil sands: further consolidation on weakening fundamentals in Q1 2023
Report summary
The first quarter saw continued decreases in commodity benchmarks while WCS differentials contracted. We address several topics facing oil sands operators and track the production performance of mining and in situ projects. What is driving contracting WCS differentials? What are operators doing with free cash flow? What progress industry is taking on addressing emissions reduction? Environmental incidents and impacts on projects?
Table of contents
- Executive summary
-
Benchmark crude prices
- Bitumen and SCO realisations
-
Production
- Mining production
- Kearl tailings seepage
- Fort Hills
- In situ production
- Earnings and shareholder returns
- Other topics
- Suncor acquisition of TotalEnergies' oil sands assets
- Pathways Alliance
Tables and charts
This report includes 9 images and tables including:
- Benchmark prices
- Benchmark price performance
- Historical WCS differentials
- Realised pricing
- Mining project production
- In situ projects producing >40 kb/d
- In situ projects producing <40 kb/d
- Reported net earnings
- Corporate cash distributions since 2020
What's included
This report contains:
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