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- 1. Executive Summary 8
- 2. World Oil and Gas Reserves 10
- 3. Definitions of Reserves 11
- Some different definitions in use worldwide. 11
- SPE/WPC Definitions of Reserves 12
- Definitions of oil and gas reserves 12
- Deterministic and probabilistic estimation of reserves 12
- Proved reserves 13
- Proved, proved undeveloped reserves 13
- Unproved Reserves 14
- Unproved Probable Reserves 14
- Unproved Possible Reserves 14
- Comparison of using different methods of calculating reserves 14
- Calculations to determine reserve values 16
- The volumetric method 16
- Decline curve analysis 16
- External factors affecting reserves 17
- 4. Non-Conventional Oil 19
- Natural bitumen, tar sand, oil sand, natural asphalt – synthetic crude oil 19
- Canadian Oil Sands and Venezuelan Orimulsion® 19
- Synthetic crude oil 19
- 5. What are the oil reserves of the world? 24
- 6. Extraction techniques 27
- 7. Country Profiles 36
- Canada 36
- History of production of the Canadian Tar Sands bitumen 37
- Athabasca 39
- China 59
- Congo 60
- Madagascar 60
- Russia 62
- Trinidad & Tobago 63
- USA 63
- Venezuela 65
- Other countries 68
- 8. Cost competitiveness 71
- 9. Barriers 80
- 10. Environmental Impacts 82
- Tailings 83
- 11. The US and Canada relationship 90
- 12. The Main Players 100
- Canada 100
- Syncrude 120
- Imperial Oil (Esso Imperial Oil) 126
- Shell Canada Energy 140
- Venezuela 163
- 13. Canada project list 165
- 14. Logistics 176
- 15. Glossary 200
- 16. Sources 201
Tables
Table 4 1: Extra-heavy oil resources, reserves and production at end 2008, million barrels
Table 4 2: Natural bitumen resources, reserves and production at end-2008, million barrels
Table 5 1: Comparison of two sets of reported oil reserves for the top ten countries, billion barrels, 2009
Table 6 1: Advantages and disadvantages of the two main in situ technologies
Table 6 2: Technologies for in situ bitumen extraction
Table 6 3: Status of upgraders in Alberta
Table 7 1: Inventory of major Alberta oil sands projects
Table 7 2: Canadian oil sands projects producing, under construction and in development
Table 7 3: Utah Tar Sands Estimated In-Place Resources
Table 7 4: Orinoco belt strategic associations
Table 7 5: Other natural bitumen and extra heavy oil reserves by country
Table 8 1: Estimates of operating cost (Opex) and supply costs by production method
Table 8 2: Alberta Oil Sands Costs / Barrel (USD 2006)
Table 8 3: Oil sands project costs
Table 9 1: Cash operating costs for the Athabasca Oil Sands Project (AOSP), USD per barrel of oil equivalent
Table 11 1: US refinery upgrades in the Mid West (PADD II) and US Gulf (PADD III)
Table 12 1: Major foreign acquisitions in Canadian oil sands in 2010
Table 12 2: Oil sands projects producing, under construction and under development by company, barrels per day
Table 12 3: Suncor’s refineries
Table 12 4: Suncor’s 2011 production outlook, barrels of oil equivalent per day
Table 12 6: Canadian Natural Resources 2011 budget for production
Table 12 7: Canadian Natural Resources’ Thermal Heavy Oil Sands Growth Plan
Table 12 10: Average daily net production from Conoco Phillips’ oil sands projects, 2009
Table 12 11: MEG Energy’s oil sands projects
Table 12 9: Cenovus Energy oil sands projects
Table 12 12: SilverBirch Energy/Teck Resources’ joint venture oil sands projects
Table 12 13: Total E&P’s Canadian projects
Table 13 1: Status of oil sands projects in Alberta, 10th December 2010
Table 13 2: Status of oil sands upgraders in Alberta, 10th December 2010
Table 14 1: Alberta oil sands pipelines
Table 14 2: Oil sands export pipelines
Table 14 3: Proposed Export pipelines
Table 14 4: Enbridge’s Athabasca operating pipelines
Table 14 5: Inter Pipelines’ projects in operation and under development
Table 14 6: Phased expansion plans for Kinder Morgan’s Trans Mountain expansion
Table 14 7: Ports on the West Coast of Canada
Table 14 8: Average price of oil tankers per 1 million DWT depending on the type of vessels
Figures
Figure 3 1: Annual backdated conventional oil discovery, conventional oil consumption and forecasted production and discovery
Figure 5 1: Conventional oil reserves, billion barrels, 2009
Figure 5 2: Top ten countries by oil reserves ncludng oil sands, billion barrels, 2009
Figure 6 1: Status of oil sands projects by technology, thousand barrels per day
Figure 6 2: Western Canadian oil production, thousand barrels per day, 2005 to 2025
Figure 6 3: Cyclic Steam Stimulation (CSS)
Figure 6 4: Steam Assisted Gravity Drainage (SAGD)
Figure 6 5: Location of oil sands projects producing, under construction and under development
Figure 6 6: Status of in situ oil sands projects by technology, thousand barrels per day
Figure 7 1: Oil sands regime
Figure 7 2: Alberta’s bitumen resources, original oil in place, billion barrels
Figure 7 3: Chronology of development and oil sands production
Figure 7 4: Alberta oil sands projects
Figure 7 5: Grosmont Net Pay Isopach map including locations showing interest from oil sand developers
Figure 7 6: Commissioned oil sands projects in Canada, thousand barrels per day, 1999 to 2009
Figure 7 7: Forecasted number of well drilled for 2011
Figure 7 8: Oil and gas industry spending in Canada, CAD billion, 2009 to 2011
Figure 7 9: Canadian oil production, thousand barrels per day
Figure 7 10: Planned commissioning dates for Canadian oil sands projects and production, thousand barrels per day
Figure 7 11: Market Demand for Western Canadian Crude Oil – Actual 2009 versus 2015 Potential, thousand barrels per day
Figure 7 12: Location of Madagascar Oil’s five blocks
Figure 7 13: Bemolanga block in Madagascar
Figure 7 14: Distribution of speculative and measured U.S. oil sands, billion barrels of bitumen in place
Figure 7 15: Location of the Orinoco Oil Belt in Venezuela
Figure 7 16: Crude reserves in Venezuela
Figure 8 1: Crude oil and natural gas prices, 1999 to 2010
Figure 8 2: Projects and actual average IEA crude oil import price, USD per barrel, 1970 to 2030
Figure 8 3: Costs for new oil supply
Figure 10 1: Map of the Canadian oil sands
Figure 10 2: Tailings pond
Figure 10 3: Carbon dioxide emissions from the consumption of energy in Canada, million tonnes, 1980 to 2009
Figure 10 4: CO2 emissions for coal-fired and plants and oil sands projects in North America, mega tonnes
Figure 10 5: Wheel-to-wheel CO2 emissions for different sources of oil for the United States, g CO2 per MJ gasoline
Figure 11 1: Imports of oil into the USA by country and region, thousand barrels per day, 2009
Figure 11 2: Imports of Canadian oil into the USA, million barrels, 1993 to 2009
Figure 11 3: Consumption and production of oil in the USA, thousand barrels per day, 1965 to 2009
Figure 11 4: Consumption and production of oil in Canada, thousand barrels per day, 1965 to 2009
Figure 11 5: Landed price for oil imports into the US by country of origin, USD per barrel, 2009
Figure 11 6: Landed price of oil imports into the United States, USD per barrel, 1973 to 2009
Figure 11 7: Used and unused refining capacity in North America by country, thousand barrels per day, 2009
Figure 11 8: Regional oil refinery profit margins on a quarterly basis, USD per barrel, 1992 to 2009
Figure 11 9: Oil refinery capacity in the US and Canada, thousand barrels per day, 1965 to 2009
Figure 12 1: Oil imports by country, thousand barrels per day, 2009
Figure 12 2: Leases owned in a section of Athabasca
Figure 12 3: Oil sands projects producing, under construction and under development by company, thousand barrels per day
Figure 12 4: Alberta oil sands projects and upgraders, January 2011
Figure 12 5: Locations of Suncor refineries
Figure 12 6: Petro-Canada and Suncor merger timeline
Figure 12 7: Suncor-Total asset distribution
Figure 12 10: Imperial Oil’s resource development: building production volume, thousand of oil-equivalent barrels a day before royalties
Figure 14 1: Canadian & U.S. Crude Oil Pipelines – All Proposals
Figure 14 2: Canadian Energy Pipeline Association Members Proposed Crude Oil Pipeline Expansions
Figure 14 3: Phase 1 and 2 of the keystone pipeline
Figure 14 4: Phase 3 and 4 of the keystone pipeline
Figure 14 5: Enbridge’s Alberta regional infrastructure
Figure 14 6: Enbridge’s pipeline network and expansion plans
Figure 14 7: Enbridge’s Northern Gateway project
Figure 14 8: Inter Pipeline’s pipelines
Figure 14 9: Inter Pipelines’ oil pipeline growth strategy
Figure 14 10: Kinder Morgan’s Trans Mountain pipeline
Figure 14 11: Kinder Morgan’s Trans Mountain expansion
Figure 14 12: Kinder Morgan’s Express – Platte Pipeline System
Figure 14 13: Pembina’s oil sands pipeline projects
Figure 14 14: Route of Pembina’s Nipisi and Mitsue pipelines
Figure 14 15: CN’s rail network for the oil sands projects in Alberta
Figure 14 16: Shipments of petroleum products through the Port of Vancouver, thousand tonnes, 2008 to November 2010
Figure 14 17: Estimates of tanker rates from Canada to Asia, USD per barrel
Figure 14 18: Typical supply curve for a given size of fleet
Figure 14 19: Ship new build and five year asset value since 2000
Price: £650.00
Prod. Code: NRGOSR1
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