Canada is to produce 42% more oilsands by 2025 as existing projects continue to expand

It is estimated that by 2025 Canada will produce 3.4 million barrels per day, which is 42 percent more than now. Nevertheless, the analysts believe that this will be achieved by the expansion of the existing project rather than the new ones. 27.Jun.16 10:58 PM By Anastasia Sutulova Photo Toinnov.com    390

In total, Canada oilsands output is expected to grow by 1 million barrels per day. However, it is existing projects that will become the driver of the increase. Crude prices drop of 2014 forced the biggest producers to sanction new oil sands plants and wait for the projects currently under development to be completed. The tendency continues to develop until now. Though the cost of building and operating a new oil sands plant has fallen by US$10 a barrel, expanding an existing facility is still the cheapest option. According to StroyMnogo.com, in the coming years, oilsands producers are expected to direct their resources to the most economic projects, that is to the expansions of existing facilities.

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