Oil sands production in Alberta, Canada, will benefit from two new oil sands projects expected to yield a total of 260,000 barrels of bitumen per day once the projects go online by 2017. Royal Dutch Shell's Carmon Creek thermal oil sands project is expected to produce 80,000 barrels of bitumen per day, while the Fort Hills oil sands mine project, a joint venture involving Suncor Energy, Total and Teck Resources, is expected to deliver 180,000 barrels of bitumen per day. "We see the potential that oil sands production could actually double by the end of the decade, plus or minus a couple of years," said BMO Capital Markets analyst Randy Ollenberger.

Related Summaries