The Canadian oil sands symbolize one of the most lucrative investment opportunities to oil and gas traders. Having a reserve life of 35 – 50 years the oil sands will be a major way to obtain crude oil for the years to come and will have a remarkable impact on crude petrol prices. From an buyer perspective it is valuable to know who the major players are in the Canadian Oil sands. Below are 4 of the players in the Canadian oil sands. Sand in Malaysia
Syncrude is currently the worlds greatest producer of crude oil from petrol sands, in 2005 Syncrude produces 78. 1 , 000, 000 barrels of commodity future trading from the olive oil sands. Syncrde is at present completing the Syncrude twenty one project which is expected to increase Syncrudes essential oil production from the Alberta Oil sands to three hundred and fifty, 000 barrels every day. Syncrude spends over $40 , 000, 000 dollars on r and d in an make an effort to determine more effective ways to obtain raw oil from the petrol sands. Thirty-two percent of Syncrude is owned by the Canadian Oil Sands Trust, 25% by Real Oil, 12 % by Petro Canada and the remainder by other coal and oil companies.
Petro Canada’s oil sands strategy is to grow the organization profitably through phased and integrated development of this world-class resource. Petro-Canada is strategically positioned to record full value from Alberta’s oil sands – the major such deposits in the world. Petro Canada possesses large lease coopération in the Alberta petrol sands in additiona to owning a huge refinery in the Edmonton area which is in the process of being transformed into process oil sands feedstock exclusively. Petro Canada has a 12% interest in Syncrude, 100% ownership of the MacKay River Petrol sands project. Petro Canada is a 55% owner in the Fort Hillsides oil sands project where they plan to develop an estimated installment obligations on your 8 billion dollars barrels of bitumen. Total oil sands reserves are estimated at 5 million barrels.
Synenco Strength Inc. was incorporated in 1999 to acquire and develop oil sands resources in the Athabasca region of Northern Alberta. While its inception, Synenco has advanced steadily towards the goal of developing essential oil sands mining, bitumen removal and upgrading facilities, along called the Northern Lamps Project. The independent best estimate of the N . Lights Project’s resources is 1 ) 49 million barrels of in-place bitumen.
In May 2005, Synenco created the Northern Lamps Partnership (NLP) with SinoCanada Petroleum Corporation, the Canadian subsidiary of China established Sinopec. Synenco holds a 60% interest in and is the managing spouse of NLP. The current cost of the NLP project is $5. 3 billion. When fully functional the NLP is anticipated to produce 100, 000 barrel or clip a day of light sweet synthetic crude essential oil, with first production start in late 2010.
Suncor started out crude essential oil production from the Alberta Oil Sands in 1967 and has produced over 1 billion barrels of oil in its background. Suncor exited 2005 producing 260, 000 barrels of crude oil from the oil sands every day. Suncor expects to reach 550, 000 barrels of primitive per day from the oil sands by 2012.