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Canada's oil sands: infrastructure woes weigh on Q4 2017

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Report summary

Project start ups at Fort Hills and Horzion Phase 3 in Q4 2017 means production is accelerating higher into 2018. SAGD project contributions from JACOS Hangingstone and the upcoming KNOC BlackGold also add pressure to an already constrained export system. Infrastructure issues and the wider Canadian price discounts were major stories in Q4 and will continue into 2018. We highlight the project news behind record production levels while also touching on lower operating costs, regulatory changes and Alberta's newest flowing refinery.

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  • Document

    Canada's Oil Sands Q4 2017.xlsx

    XLSX 279.23 KB

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    Canada's oil sands: infrastructure woes weigh on Q4 2017

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Table of contents

  • Executive summary
  • Benchmark prices and bitumen realisations
  • In situ production
  • Mining production
  • Operating costs
    • Federal government introduces the Canadian Energy Regulator amidst provincialpipeline quarrelling
    • Sturgeon refinery flows first diesel
    • Alberta stimulating investment in partial upgrading
    • Suncor bolsters Fort Hills and Syncrude mining ownership while filing regulatory plans for Lewis SAGD
    • Suncor goesdriverless
    • MEG disposes of Access

Tables and charts

This report includes 10 images and tables including:

Images

  • Benchmark pricing
  • Benchmark price performance
  • Historic WCS prices
  • Realised bitumen prices face a wider discount to WTI
  • In situ projects producing >30,000 b/d
  • In situ projects producing <30,000 b/d
  • Mining project production
  • Mining operating costs
  • In situ operating costs
  • Western Canada oil supply - local refinery consumption vs pipeline takeaway capacity

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