The Canadian oil sands signify one of the crucial lucrative funding alternatives to oil and fuel traders. With a reserve life of 35 – 50 years the oil sands will be a significant supply of crude oil for the years to return and may have a dramatic affect on crude oil prices. From an investor perspective it is valuable to know who the most important players are within the Canadian Oil sands. Beneath are four of the most important gamers within the Canadian oil sands.
Syncrude is currently the worlds largest producer of crude oil from oil sands, in 2005 Syncrude produces 78.1 million barrels of crude oil from the oil sands. Syncrde is at present completing the Syncrude 21 venture which is anticipated to extend Syncrudes oil production from the Alberta Oil sands to 350,000 barrels per day. Syncrude spends over $40 million dollars on analysis and improvement in an attempt to find out extra environment friendly methods to acquire crude oil from the oil sands. Thirty-two percent of Syncrude is owned by the Canadian Oil Sands Trust, 25% by Imperial Oil, 12 % by Petro Canada and the remainder by different oil and gas corporations.
Petro Canada’s oil sands strategy is to grow the enterprise profitably via phased and integrated growth of this world-class resource. Petro-Canada is strategically positioned to seize full value from Alberta’s oil sands – the biggest such deposits on the planet. Petro Canada possesses massive lease holdings within the Alberta oil sands in additiona to owning a large refinery within the Edmonton space which is in the process of being transformed to course of oil sands feedstock exclusively. Petro Canada possesses a 12% interest in Syncrude, 100% ownership of the MacKay River Oil sands venture. Petro Canada is a 55% owner in the Fort Hills oil sands venture where they plan to develop an estimated 2.8 billion barrels of bitumen. Whole oil sands reserves are estimated at 5 billion barrels.
Synenco Vitality Inc. was included in 1999 to accumulate and develop oil sands resources within the Athabasca region of Northern Alberta. Since its inception, Synenco has superior steadily towards its goal of developing oil sands mining, bitumen extraction and upgrading amenities, together called the Northern Lights Project. The impartial finest estimate of the Northern Lights Venture’s resources is 1.Forty nine billion barrels of in-place bitumen.
In May 2005, Synenco created the Northern Lights Partnership (NLP) with SinoCanada Petroleum Company, the Canadian subsidiary of China based mostly Sinopec. Synenco holds a 60% interest in and is the managing associate of NLP. The current value of the NLP challenge is $5.Three billion. When totally operational the NLP is expected to produce a hundred,000 barrel a day of gentle candy synthetic crude oil, with first production beginning in late 2010.
Suncor began crude oil production from the Alberta Oil Sands in 1967 and has produced over 1 billion barrels of oil in its historical past. Suncor exited 2005 producing 260,000 barrels of crude oil from the oil sands per day. Suncor expects to succeed in 550,000 barrels of crude per day from the oil sands by 2012.