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Canada's oil sands and heavy oil resources are among the world's great petroleum deposits. They include the vast oil sands of northern Alberta, and the heavy oil reservoirs that surround the small city of Lloydminster, which sits on the border between Alberta and Saskatchewan.
Multiple oil fields [3] and gas fields [4] tap into the Manville Group. Total gas reserves amount to 316 799 × 10 6 m 3 in the Lower Mannville and 644 774 × 10 6 m 3 in the Upper Mannville. [5] Recoverable oil reserves amount to 105.64 × 10 6 m 3 in the Lower Mannville and 199.20 × 10 6 m 3 in the Upper Mannville. [6]
The Cenovus Lloydminster Refinery is an asphalt refinery located in the city of Lloydminster, Alberta, Canada owned by Husky Energy.The refinery provides oil products, primarily 30 different grades of asphalt (2120 m³/day ), as well as light distillate, kerosene distillate, atmospheric gas oil, light vacuum gas oil (VGO), and heavy vacuum gas oil.
The oil sands plant at Abasand had burned down in 1941, before being rebuilt at great expense. To only then be taken over by the federal government as a possible source of petroleum products during the Second World War." Even with all these challenges, Manning remained steadfast in his support of the oil sands development.
The Town of Peace River sits in the proximity of Peace River Oil Sands, Alberta's 3rd largest oil sands deposit. In May 2010, Penn West Energy Trust signed a $1.25-billion deal with China Investment Corporation to finance operations in the Peace River oil sands area in anticipation of significantly ramping up its production. As part of the deal ...
Cenovus was formed in 2009 when Encana Corporation split into two distinct companies, [4] with Cenovus becoming focused on oil sands assets.. In 2017, Cenovus purchased ConocoPhillips' 50 percent share of their Foster Creek Christina Lake (FCCL) oil sands projects and most of their conventional assets in Alberta and British Columbia, including the Deep Basin.
In 2017, the company acquired the Canadian oil sands assets of Royal Dutch Shell, including a 70% working interest in the Athabasca Oil Sands Project, for $5.3 billion in cash plus 97,560,975 shares. The shares were sold in 2018. [18] [19] In August 2018, the company acquired the idled Joslyn oil sands project from Total S.A. and its partners. [20]
Syncrude Canada Ltd. is one of the world's largest producers of synthetic crude oil from oil sands and the largest single source producer in Canada.It is located just outside Fort McMurray in the Athabasca Oil Sands, and has a nameplate capacity of 350,000 barrels per day (56,000 m 3 /d) of oil, equivalent to about 13% of Canada's consumption. [1]