Canadian Oil Sands - Who Are the Major Players
The Canadian oil sands represent one of the most lucrative investment opportunities to oil and gas investors. With a reserve life of 35 – 50 years the oil sands will be a major source of crude oil for the years to come and will have a dramatic impact on crude oil prices. From an investor perspective it is valuable to know who the major players are in the Canadian Oil sands. Below are 4 of the major players in the Canadian oil sands.
Syncrude is currently the worlds largest producer of crude oil from oil sands, in 2005 Syncrude produces 78.1 million barrels of crude oil from the oil sands. Syncrde is currently completing the Syncrude 21 project which is expected to increase Syncrudes oil production from the Alberta Oil sands to 350,000 barrels per day. Syncrude spends over $40 million dollars on research and development in an attempt to determine more efficient ways to obtain crude oil from the oil sands. Thirty-two percent of Syncrude is owned by the Canadian Oil Sands Trust, 25% by Imperial Oil, 12 % by Petro Canada and the remainder by other oil and gas companies.
Petro Canada’s oil sands strategy is to grow the business profitably through phased and integrated development of this world-class resource. Petro-Canada is strategically positioned to capture full value from Alberta’s oil sands – the largest such deposits in the world. Petro Canada possesses large lease holdings in the Alberta oil sands in additiona to owning a large refinery in the Edmonton area which is in the process of being converted to process oil sands feedstock exclusively. Petro Canada possesses a 12% interest in Syncrude, 100% ownership of the MacKay River Oil sands project. Petro Canada is a 55% owner in the Fort Hills oil sands project where they plan to develop an estimated 2.8 billion barrels of bitumen. Total oil sands reserves are estimated at 5 billion barrels.
Synenco Energy Inc. was incorporated in 1999 to acquire and develop oil sands resources in the Athabasca region of Northern Alberta. Since its inception, Synenco has advanced steadily towards its goal of developing oil sands mining, bitumen extraction and upgrading facilities, together called the Northern Lights Project. The independent best estimate of the Northern Lights Project’s resources is 1.49 billion barrels of in-place bitumen.
In May 2005, Synenco created the Northern Lights Partnership (NLP) with SinoCanada Petroleum Corporation, the Canadian subsidiary of China based Sinopec. Synenco holds a 60% interest in and is the managing partner of NLP. The current cost of the NLP project is $5.3 billion. When fully operational the NLP is expected to produce 100,000 barrel a day of light sweet synthetic crude oil, with first production beginning in late 2010.
Suncor began crude oil production from the Alberta Oil Sands in 1967 and has produced over 1 billion barrels of oil in its history. Suncor exited 2005 producing 260,000 barrels of crude oil from the oil sands per day. Suncor expects to reach 550,000 barrels of crude per day from the oil sands by 2012.
A valuable resource for anyone looking for more information on the oil and gas industry is www.findst.com which includes information on the oil sands , oil and gas stocks , and a comprehensive listing of oil and gas jobs. Your Article Search Directory : Find in Articles
Recent articles in this category:
- Sbi Best Sip Plans 2010
SBI Mutual funds have introduced many mutual schemes. Each scheme has different limitations. SBI SIP
- Icici Sip Plans 2010 - Best Sip Plans
ICICI Prudential offers many schemes. These fund schemes have SIP. What is SIP? SIP's expansion is S
- Determining Where To Invest Money
There are several kinds of investments, also you will find numerous factors to find out where to inv
- Retirement Plans A Necessity Of Life
A person works whole life to give a decent upbringing to his children and families. But while improv
- Stock Market Timing Signals
Follow the PlanThis would seem a statement of common sense, but the fact of stock market timing sign
- A Selection Of Financial And Investment Strategy Guidelines For Turning A Profit
Yet, we don't often have the money to leave work right at this moment. We need a constant salary to
- Find Out The Profitable Way To Invest In Small Cap Stocks
Everyone wants to find a penny stocks list or other investment strategies that can turn your literal
- Portfolio #4 - Watergate
IntroductionThe problem is not that the world is running out of water. No, the problem is that drink
- Dulton Group: Information Content Of Dividends
Dulton Group helps you to analyze the information content of dividends, an important factor affectin
- Coping With Fear In A Markets
The real fact is that all traders, investors as well as stock market investors, who feel afraid, occ
Most viewed articles in this category:
- Investor Stress: A New Approach
George Muzea is both an investor and a stock market advisor. In any given month, he will be paid $10
- Real Estate Investment Financing
1. Location: Your real estate investment's location is arguably the most important component of your
- Why Bulk Preconstruction?
Bulk preconstruction is the latest trend in secure, high profit real estate investing. By buying wit
- Investing - It Is Not As Scary As You Think
Many people want to have more money - OK everyone does. However, most people don't know how to go a
- How Do I Know Which Programs Are Scams?
Although it is virtually impossible to tell if a HYIP is a scam until the moment when they stop payi
- Currency Trading Success - 6 Tips to Increase your Profits
If you want to increase your profit potential and achieve currency trading success then the simple t
- The Business Cycle
Investors who want to beat the market should be followers of the business cycle. The business cycle
- Pros and Cons of Real Estate
Like any other profession, there are good and bad things about what are available. Each of the thin
- The Fixer Upper
Real estate investing has become almost a national pastime. Millions are made every year on the buyi
- Trading On Support And Resistance Levels
The concept of support and resistance is extremely interesting, and one which will help you consider