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Canada's oil sands: doom and gloom in Q1 2018

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02 May 2018

Canada's oil sands: doom and gloom in Q1 2018

Report summary

Q1 2018 saw a steady climb in oil prices like WTI. However, oil sands operators experienced wider price differentials that negated the increases in global prices. Better market access is needed yet new pipelines continue to hit roadblocks and delays. Those negative sentiments were front and centre during Q1 reporting as multiple CEOs said new project investment will not occur until market access is improved.

Table of contents

  • Executive summary
  • Benchmark prices and bitumen realisations
    • What's all the fuss with pipelines?
    • Turnarounds in Q2 to provide respite while rail counted on for longer term relief
  • In situ production
  • Mining production
  • Operating costs and producer netbacks
  • Canada's competitiveness increasingly in doubt
  • Other significant events
  • Appendix: Project turnarounds

Tables and charts

This report includes 9 images and tables including:

  • Benchmark pricing
  • Benchmark price performance
  • Historic WCS prices
  • Realised bitumen prices face a wider discount to WTI
  • In situ projects producing >35 kbd
  • In situ projects producing <35 kbd
  • Mining project production
  • Quarterly netbacks
  • Cenovus Christina Lake netbacks

What's included

This report contains:

  • Document

    Canada's Oil Sands Q1 2018.xlsx

    XLSX 377.28 KB

  • Document

    Canada's oil sands: doom and gloom in Q1 2018

    PDF 409.08 KB

  • Document

    Canada's oil sands: doom and gloom in Q1 2018

    ZIP 733.80 KB

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