Oil Sands Report

Oil Sands Report
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Summary

This new report looks at the global Oil Sands market place now and the predictions for future growth development and change. Rising oil prices have renewed interest in oil sands and extra-heavy oil projects. In the two countries with the largest proven reserves, Canada and Venezuela, there has been an increase in both domestic and foreign investment in projects. With Japan, China and South Korea leading the pack in terms of the monies invested and diversity of projects funded. As all four countries are reliant on oil imports and Japan has no fossil fuel reserves of its own. In Venezuela, for the first time since his election, Chavez has awarded heavy oil blocks in its Orinoco belt to foreign companies. By contrast, the majority of Canadian oil sands leases have been awarded. Therefore mergers and acquisitions are likely to feature heavily over the coming years rather than brand new projects in the Alberta oil sands region.

Scope

Environmental opposition and opposition from the US oil industry are stalling the development of some of these projects. For example, Imperial Oil hit a setback when its plan to transport 35,000 tons of mining equipment over the Rocky Mountains was delayed by the Idaho Supreme Court on environmental grounds.

In Venezuela environmental opposition is less of a problem. Instead there are concerns over the ability of PVDSA to meet its goals for the development of the Orinoco belt. Furthermore, Venezuela is still perceived as a risky investment because the oil fields under development could be nationalised at a later date.

Further information on the technologies used in extraction, projects under development, players in the sector, prices and so on is covered in more depth in our report.

Reasons to Buy

  • Make informed business decisions through a clear global understanding of this market
  • Design business strategies by understanding the trends, developments and predictions

Date Published

September, 2011

Format / Pages

PDF / 201