Canada’s oil sands under siege
A scarcity of investment options is compounding the rapid exodus of international firms
The Canadian oil sands industry has been hit repeatedly since the middle of the last decade. International crude prices collapsed between 2014-16 and again this year, while Western Canadian oil prices slumped in the second half of 2018. The latter was due to a lack of takeaway capacity from the region, courtesy of an anti-oil sands campaign to slow development of new pipelines from Western Canada. The global environmental movement has successfully painted oil sands as being ‘black as coal’ over the past decade. This, along with lower oil prices, has contributed to an exodus of IOCs and major financial institutions from the resource. On 29 July, France’s Total, one of the few remaining IOCs i
Also in this section
20 January 2025
The country’s oil and gas giant, KazMunayGas, is pushing ahead with a series of significant international partnerships
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent