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MEG Energy - Borderline large cap oil sands producer with 5 billion barrels (790,000,000 m 3) 6 billion barrels (950,000,000 m 3) of 2P reserves in Christina Lake and Surmont (the 2 projects are 50 km apart). Tourmaline Oil - Primarily a natural gas company with operations in Northern BC and central Alberta. In the first half of 2012 88% of ...
The U.S. imports some 4 million barrels per day of Canadian oil, 70% of which is processed by refiners in the Midwest. It also imports over 450,000 bpd of Mexican oil, mainly for refiners ...
From 2008 through 2018, Western Canadian Select (WCS), Canada's benchmark for heavy crude oil sold at an average discount of US$17 against the benchmark for light oil, West Texas Intermediate (WTI). This widened to a record US$50 in the fall of 2018 with the price of WCS hitting a record low of less than US$14 a barrel.
BP entered the Canadian market in October 1953, when it purchased a 23 percent stake in the Triad Oil Company. In 1955, BP formed a Canadian subsidiary, based in Montreal, called BP Canada Limited. The company began acquiring retail stations in Ontario and Quebec and in 1957 started construction on a refinery in Montreal.
In 2022, Canada accounted for 60% of crude oil imports to the U.S., while 10% of crude oil came from Mexico, according to the U.S. Energy Information Administration.
Originally developed by Great Canadian Oil Sands, a majority-owned subsidiary of Sun Oil, it is now wholly owned by the independent Suncor. It was the first commercial development on the Athabasca oil sands , although small, earlier projects like that at Bitumount also played a role in development.
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