1 October 2003
Oil-sands revival
BUOYED BY formal US acceptance of their resource, oil-sands operators in Alberta are rolling out fresh plans to spend about C$8.2bn ($5.9bn) on at least seven projects, according to investment dealer FirstEnergy Capital. If all of the schemes receive the go-ahead from their boards of directors this year it will be a real sign of confidence in the future of the oil sands, says FirstEnergy analyst Steven Paget. The outlook brightened earlier this year when the US Energy Information Administration decided to add bitumen deposits to Canada's proved conventional crude reserves of 5bn barrels. With the stroke of a pen, Canada leapt to second place in the world reserves list behind Saudi Arabia, by
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
