Canada oil sands: Q1 2022 net earnings top nine billion

Get this report*


You can pay by card or invoice

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

The first quarter of 2022 was dominated by macro events. Russia’s invasion of Ukraine has caused global supply chain disruptions, impacted energy security in Europe and sent global benchmark prices spiralling upward. Oil Sands producers are feeling the impact both in terms of growing sales revenues and increased energy costs. While oil sands production fell over 150,000 b/d, companies experienced record quarter earnings with focus remaining on returning value to shareholders through debt pay-down, share re-purchases and increased dividends.

Table of contents

  • Executive summary
    • WCS price performance
    • Bitumen and SCO realisations
  • In situ production
  • Mining production
    • Commitment to shareholder returns continues
    • Operating costs grow
    • Oil sands net zero pathways
    • Elliott takes activist investor position in Suncor
    • Suncor Base Mine Extension faces an uphill regulatory approval process
    • Long Lake's upgrader rises from the grave

Tables and charts

This report includes 9 images and tables including:

  • Benchmark prices
  • In situ projects producing >40kbd
  • In situ projects producing <40kbd
  • Mining project production
  • Benchmark price performance
  • Historical WCS pricing
  • Realised pricing
  • Percentage of operating costs coming from energy/fuel

What's included

This report contains:

  • Document

    Canada Oil Sands Q1 2022.xlsx

    XLSX 459.85 KB

  • Document

    Canada oil sands: Q1 2022 net earnings top nine billion

    PDF 911.56 KB