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Oil sands production expansion seen slowing by half in 2019, ESAI says

Published 10/25/2017, 02:19 PM
© Reuters.  Oil sands production expansion seen slowing by half in 2019, ESAI says
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  • Growth in production from Canadian oil sands projects is expected to decline by half to 120K bbl/day in 2019 from 250K bbl/day in 2018, ESAI Energy forecasts.
  • Greenfield mining projects are unlikely to go forward until after 2020, the consultancy says, adding that Suncor Energy’s (NYSE:SU) operated 190K bbl/day Fort Hills mine, sanctioned in 2013 and due for startup by year-end, could be the last greenfield mining project in the oil sands for several years.
  • Also, ESAI expects pipeline capacity for surplus Canadian crude to remain constrained until Enbridge's (NYSE:ENB) Line 67 expansion comes online in late 2018 and provides some temporary relief.
  • Other potentially relevant tickers include TRP, CVE, IMO, XOM, RDS.A, RDS.B, CNQ, PDS, CEO, OTCPK:HUSKF, OTCPK:MEGEF, OTCPK:ATHOF
  • Now read: Shell (LON:RDSa) Is Nothing Short Of Exemplary

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