CAPP’s outlook for oil sands growth through 2030

The Canadian Association of Petroleum Producers is forecasting that output from Alberta's oil sands will reach 4.8 million barrels per day by 2030, about 400,000 bbl/d lower than its forecast last year, due largely to project costs and the...

The Canadian Association of Petroleum Producers is forecasting that output from Alberta's oil sands will reach 4.8 million barrels per day by 2030, about 400,000 bbl/d lower than its forecast last year, due largely to project costs and the availability of capital.

Canada's main oil and gas lobbying group expects production from the oil sands will grow from 1.9 million bbl/d in 2013 to 2.3 million bbl/d in 2015, 3.2 million bbl/d in 2020 and 4.8 million bbl/d in 2030 – an average annual growth of 170,000 bbl/d, or an increase of 2.5 times over 2013 levels, according to its most recent Crude Oil Forecast, Markets & Transportation, a publication released each year in June.

Much of the growth will be attributable to in situ production. Of the 1.9 million bbl/d produced from the oil sands last year, 850,000 bbl/d came from mining and 1.1 million bbl/d from in situ projects, the report states. By 2030, the association forecasts mining production will increase to 1.6 million bbl/d and in situ production will grow to 3.2 million bbl/d.

Read the complete story at NorthernMiner.com/news/capps-outlook

Comments

Your email address will not be published. Required fields are marked *

Mar 27 2024 - Mar 28 2024
Apr 08 2024 - Apr 09 2024
Apr 15 2024 - Apr 16 2024
Apr 16 2024 - Apr 16 2024