Finding the sweet spot: Canadian conventional oil
The oil sands get most of the attention and investment, but there is life in the country's oil sector beyond bitumen
After decades of decline, Canada's ageing oilfields have been revived by advances in horizontal drilling and hydraulic fracturing. Output tripled to around 1.4m barrels a day by 2015, up from 460,000 b/d in 2010, according to the Canadian Energy Research Institute (Ceri)—an industry-funded think tank. According to the National Energy Board (NEB), the country's regulator, that's the highest level of conventional output since 1972. Horizontal drilling and fracking are helping producers lift recovery rates on many old oilfields that had historically only been able to get about 15% of the original oil in place out of the ground. The Alberta Energy Regulator (AER) estimates that some 1.14bn barre
Also in this section
18 February 2026
With Texas LNG approaching financial close, Alaska LNG advancing towards a phased buildout and Magnolia LNG positioned for future optionality, Glenfarne CEO Brendan Duval says the coming year will demonstrate how the company’s more focused, owner-operator approach is reshaping LNG infrastructure development in the North America
18 February 2026
The global gas industry is no longer on the backfoot, hesitantly justifying the value of its product, but has greater confidence in gas remaining a core part of the global energy mix for decades
18 February 2026
With marketable supply unlikely to grow significantly and limited scope for pipeline imports, Brazil is expected to continue relying on LNG to cover supply shortfalls, Ieda Gomes, senior adviser of Brazilian thinktank FGV Energia,
tells Petroleum Economist
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
