Backed by favorable government policy initiatives, production from oil sands has soared considerably over the past decade, enabling Canada to emerge as the fourth largest crude producer in 2018, after the US, Russia, and Saudi Arabia.
Oil sands production contributed to around 67% of the country’s total crude oil production in 2018.
However, pipeline capacity constraints for transporting the crude produced from oil sands has somewhat delayed further progress of the oil and gas industry in Canada.
But the industry faces an environmental backlash
GlobalData’s Oil Sands – Thematic Research report discusses this further and analyses the impact of oil sands as a theme on the oil & gas industry.