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Oil price crash: Canada’s oil sands braces for another battle

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16 March 2020

Oil price crash: Canada’s oil sands braces for another battle

Report summary

Plunging prices again endanger Canada's oil sands sector. If Brent averages US$35/bbl for 2020 we expect project owners to lose Cdn$23 billion. The sector has changed since 2015. Lessons learned from previous global and regional price shocks must be applied. Decisive action needs to be taken. This is not the death knell for oil sands, but the realities of negative cash flow must not be underestimated. Read on to see what we expect in 2020.

Table of contents

Tables and charts

This report includes 7 images and tables including:

  • Oil sands cash flow by project type
  • 2020 post-tax cash flow by project
  • Remaining post-tax PV10 by project type and scenario
  • Royalties in 2019-2021 by scenario
  • Cash cost of extracting bitumen in 2020 relative to price
  • Average operating costs for reporting projects
  • Selected SAGD project operating cost trends

What's included

This report contains:

  • Document

    Oil price crash: Canada’s oil sands braces for another battle

    PDF 1.09 MB

  • Document

    Canada’s oil sands braces for another battle.xlsx

    XLSX 238.60 KB