December 2012, Vol. 239 No. 12

In The News

Canadian Oil Production Seen Rising 55%

BENTEK’s Crude Awakening: Shale Boom Hits Oil forecasts Canadian crude oil production to rise 55% by 2022, with growth coming from oil sands and unconventional shale production predominately in Western Canada.

Over the next 10 years, the additional production will compete for space on pipelines that reach refining hubs in the U.S. Midcontinent and Gulf Coast regions. Given the already high utilization rates for most pipelines out of Western Canada, additional transportation capacity will be essential in order to minimize production curtailments and sustained weak crude oil prices.  BENTEK reports more than 200 oil sands projects are planned to come online by 2022.