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Canadian oil sands projects will see capital expenditure of US$40.6 billion between 2016 and 2025, says GlobalData

As with other oil and gas projects that require a high crude price to break even, several oil sands projects have experienced delays and cancellations over the past 12 months. However, the production of oil sands in Canada is set to continue its path of growth, with plans for six new oil sands projects and the expansion of 11, according to research and consulting firm GlobalData.

Canada oil sands continue to gain global attention

Canada holds the largest crude oil deposits outside the Middle East, most of which are in the form of oil sands, and are expected to play a major role in supplying the world’s future energy requirements, states a new report by energy experts GlobalData.

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