Insight
Canada's Oil Sands: a pipeline bonanza in Q4 2016
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Report summary
Oil sands production and price realisations improved quarter on quarter. Production is at an all time high of over 2.45 million b/d. The industry benefited from incremental brownfield expansions and an appreciation of benchmark crudes in the wake of OPEC production cuts. Operating costs crept up 2% over the quarter, but were largely offset by material increases in price realisations that lead to improved netbacks across the region.
Table of contents
- Executive summary
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Benchmark oil prices and bitumen realisations
- Realised prices in Cdn$/bbl
- In situ production
- Operating costs
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Significant events
- Canadian government approves Trans Mountain Expansion and Line 3 Replacement pipelines
- U.S. President Donald Trump signs executive order to expedite Keystone XL Pipeline decision
- Statoil makes its exit
- MEG applies for 164,000 bbl/d May River project
- Syncrude nears name plate capacity
- Capital expenditures decrease, but certain operators are ramping up
Tables and charts
This report includes 10 images and tables including:
Tables
- Syncrude cost sensitivity
Images
- Benchmark prices
- Historical Western Canada Select prices
- In situ projects <35,000 bbl/d
- In situ projects <35,000 bbl/d
- Mining project production
- Operating costs for select projects
- Canada's Oil Sands: a pipeline bonanza in Q4 2016: Image 3
- Syncrude improvements
- Spending budgets for oil sands operators
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