Canadian oil sands production is set to enter a period of slower annual production growth compared to previous years. Nevertheless, total production is expected to reach nearly four million barrels per day (mbd) by 2030 - nearly one million more than today, according to a new 10-year production forecast by business information provider IHS Markit.
|Address||4th floor Ropemaker Place, 25 Ropemaker Street, London, EC2Y 9LY, GB|
Crude-oil-to-chemicals technology could boost per-barrel profits for refiners and petrochemical producers: IHS Markit
A revolutionary new chemical process technology, called crude oil-to-chemicals (COTC), could more than double the profitability derived from a barrel of crude oil, according to a new, independent economic assessment from IHS Markit.
The cost of building
and operating oil sands projects has fallen dramatically in recent years and
total oil production is expected to rise by another 1 million barrels per day
(mbd) by 2030. But external factors—such as price uncertainty caused by
pipeline constraints—are contributing to a more moderate pace of production
growth than in years past, a new report by business information provider
Imports of Canadian heavy crude are an increasingly important source of supply to the United States, the world's largest refining market for such crudes, according to a new report by IHS Markit. U.S. imports of Canadian heavy crudes will approach 2.8 million barrels per day (mbd) in 2018—more than double what they were in 2012—and could exceed 3 million mbd in 2020.
The boom in U.S. oil and gas production over the past decade has exerted a moderating force on what is a large domestic merchandise trade deficit by helping reduce the country's net petroleum imports, a new report by business information provider IHS Markit says. Continued U.S. production growth is now on track to make the country a net-exporter of petroleum for the first time since at least 1949.
The emissions intensity of upstream Canadian oil sands production will continue to decline in coming years, falling to 30 percent below 2009 levels by 2030, a new report by business information provider IHS Markit says.
Canada's oil sands will experience large production growth through 2019 followed by more modest, steady growth through 2027, according to a new 10-year production forecast by business information provider IHS Markit. The forecast calls for production to rise more than half a million barrels per day in 2019 and up to 1 mbd higher by 2027 compared to today.
A decade since the start of a shale gas revolution that unlocked new supplies and resulted in a "wholesale turnaround" in U.S. production, the overall size of recoverable gas reserves continues to increase and the pace of production growth is only accelerating, a new report by business information provider IHS Markit says.
Oil production in the Permian Basin, already a major force in global supply growth, will rise nearly 3 mbd by 2023 — a level of growth exceeding most recent estimates, a new outlook by business information provider IHS Markit says. What the report describes as a "stunning" level of growth will comprise more than 60 percent of net global production growth during that timeframe.
Supplies of Canadian oil sands heavy crude are increasingly being refined on the U.S. Gulf Coast (USGC) and could top 1.2 million barrels per day (mbd) — a full one-third of the region's heavy oil refining market — by 2020, says a new report by business information provider IHS Markit. Current runs of Canadian crude in the USGC market are estimated to already be in excess of 800,000 barrels per day (bpd), the report says.