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United States of America: 18 - 19 Million Barrels per day
Saudia Arabia 10 - 12 Million Barrels per day
Russia 11 - 12 Million Barrels per day
Decreased to 9.7 Million Barrels per day since Russian-Ukraine war
OPEC + OPEC+ Countries have coordinated to lower production per day by 2 Million barrels per day
Canadian Oil Exports
90% is to the United States
4.1% is to Europe
3.9% is to China
Canada is a major supplier of crude oil to the United States, and a significant portion of the crude oil processed at U.S. refineries is imported from Canada
Stats
Population: 35 Million People
Daily Oil Consumption: 2 - 2.5 Million Barrels per day
Daily Oil Production: 4 - 4.5 Million Barrels per day
Why canada produces so little oil? It’s not because of skills/technical
Oil producers under-produce
Canada could be the largest oil producer in the world if it wanted to
Produces 2x what it consumes
Supply is 2x demand well we don’t need to increase production
Canada Crude Oil
Heavy
High Viscosity
High sulfur content
More cost to refine
Canada has refineries to refine crude oil but ships most to U.S refineries
Travels by
Waterways
Rail Networks
US to Canad SHippign Routes
Canada Oil goes from here → US (ror refinement) → Overseas
formed through heat and compression over millions of years of dead life (fossil)
plants and animals die > fall to bottom of the ocean > decay (over time) > New Layers rock and sediment pile on top (over millions of years > fossils subject to heat and pressure (cooked) > different heat and pressure leavels leave different gas and oils
Shale is source rock for moist oil and gas
Conventional Development - Over years oil and gas rises into rock traps called cap-rocks/seals
These formations are what companies “tap”
Tap the well > Vertical wells going down > pressure sends oil/gas to surface
Advances of technology have allowed for mining of source rock
it is now economical to mine source rock
Horizontal drilling
Hydraulic Fracturing
Once well is drilled Hydraulic Fracturing takes places
Millions of gallons of water and sand
High pressure water pumps bores into and fractures rock
sand stays there to help keep cracks open
“Unconventional” production: Oil Sands
Canada (mostly here)
Venezuela
United States
Sands mining
oiul sands close to surface usually strip mined
processed seperately so sand and rock seperate from oil
In Situ Production
Most of the oil sand will be pulled this way
2 wells 1 pumping steam, 1 other oil
heating oil and liquifying oil comes up to the surface
After crude oil is produced it is refined and transported in various ways
Refinement
Gasoline
Diesel
Jet Fuel
Other Products
Transportation
Pipeline
Rail
Truck
Cargo Tankers
Spectrum of oils and gases they make are different and are suited for different products
refineries are concentrated around the gulf-coast and population centres (in USA)
Transported from well to processing facility
Methane is seperated from natural gas molecules like propane, butane
Transported and sold seperately after molecule seperation
Butane (lighters)
Propane (BBQ)
Methane (Gas stove tops)
Supply Chain for petroleum products
Costs from High to low
Crude Oil makes up majority of the cost
Taxes
Refinement
Distribution
Marketing
Crude oil affects the price of petroleum products greatly
Oil prices are global, natural gas prices are regional
Global disruptions in one part of the world affects prices for oil worldwide
Natural gas fluctuates from region-to-region
Priced regionally as opposed to globally
reason is there is only one major method of transportation
pipelines
LNG (Liquiefied Natural Gas)
Supercoded NiG
Can be shipped on Tanker worldwide
More expensive
Liquification costs
Shipping costs
Biggest event in last 25 years since Iranian revolution
Allowed U.S to increase production of Natural Gas
Used same technology to increase Natural Gas production to increase oil production
Main sources
Permian Basin (West Texas / East New Mexico)
Bakken / Threeforks (West North Dakota)
Eagle ford (South Texas)
Cheap Natural Gas makes clean power transition possible in transitioning from Coal → Renewables
Upstream: Exploration and Production
Independent oil and gas firms: Anadarko, Apache, Chesapake
Oilfield services: Haliburton and Schulmberger
Midstream: Distribution
Kinder Morgan, Enbridge, Crude-by-rail
Downstream: Refining and Marketing
Oil: Valero, Marathon, Sunoco, Tesoro
Gas: Indpendent Midstream firms, delivery by utilities
ExxonMobil
Chevron
Shell
BP
Venezuela
303.8B (17.5%)
Saudia Arabia
297.5 B (17.2%)
Canada
168.1 B (9.7%)
Iran
157.8B (9.1%)
Iraq
145 B (8.4%)
Russia
107.8 B (6.2%)
Kuwait
101.5 B (5.9%)
United Arab Emirates
97.8 B (5.6%)
United States
68.8 B (4.0%)
Libya
48.4 B (2.8%)
Canadian Natural Resources Limited (CNRL): This is one of the largest independent crude oil and natural gas producers in the world, with operations in Canada, the United Kingdom, and offshore West Africa.
Suncor Energy: This is a leading integrated energy company with operations in Canada, the United States, and internationally.
Cenovus Energy: This is an integrated oil and natural gas company with operations in Canada and the United States.
Imperial Oil: This is a leading Canadian oil and gas company with operations in Canada, the United States, and offshore in the Atlantic.
Husky Energy: This is a Canadian-based integrated energy company with operations in Canada, the United States, and internationally.
Enbridge: This is a leading energy infrastructure company with operations in Canada and the United States. It is involved in the transportation, distribution, and storage of crude oil and natural gas.
TransCanada Corporation: This is an energy infrastructure company with operations in Canada, the United States, and internationally. It is involved in the transportation, distribution, and storage of crude oil and natural gas.
Canadian Pacific Railway (CPR): This is a transportation company with operations in Canada and the United States. It is involved in the transport of crude oil, as well as other goods and commodities.
Canadian National Railway (CN): This is a transportation company with operations in Canada and the United States. It is involved in the transport of crude oil, as well as other goods and commodities.
ExxonMobil: This is a multinational oil and gas company with operations in more than 50 countries. It is one of the largest oil and gas companies in the world by revenue.
Chevron: This is a multinational energy company with operations in more than 180 countries. It is one of the largest oil and gas companies in the world by revenue.
ConocoPhillips: This is an international energy company with operations in more than 30 countries. It is one of the largest independent oil and natural gas exploration and production companies in the world.
BP: This is a multinational energy company with operations in more than 70 countries. It is one of the largest oil and gas companies in the world by revenue.
Royal Dutch Shell: This is a multinational energy company with operations in more than 70 countries. It is one of the largest oil and gas companies in the world by revenue.
Anadarko Petroleum: This is an independent oil and natural gas exploration and production company with operations in the United States, Africa, and the Middle East.
Marathon Oil: This is an independent oil and natural gas exploration and production company with operations in the United States, Canada, and internationally.
Devon Energy: This is an independent oil and natural gas exploration and production company with operations in the United States and Canada.
EOG Resources: This is an independent oil and natural gas exploration and production company with operations in the United States, Canada, and internationally.
Apache Corporation: This is an independent oil and natural gas exploration and production company with operations in the United States, Canada, and internationally.
United States of America: 18 - 19 Million Barrels per day
Saudia Arabia 10 - 12 Million Barrels per day
Russia 11 - 12 Million Barrels per day
Decreased to 9.7 Million Barrels per day since Russian-Ukraine war
OPEC + OPEC+ Countries have coordinated to lower production per day by 2 Million barrels per day
Canadian Oil Exports
90% is to the United States
4.1% is to Europe
3.9% is to China
Canada is a major supplier of crude oil to the United States, and a significant portion of the crude oil processed at U.S. refineries is imported from Canada
Stats
Population: 35 Million People
Daily Oil Consumption: 2 - 2.5 Million Barrels per day
Daily Oil Production: 4 - 4.5 Million Barrels per day
Why canada produces so little oil? It’s not because of skills/technical
Oil producers under-produce
Canada could be the largest oil producer in the world if it wanted to
Produces 2x what it consumes
Supply is 2x demand well we don’t need to increase production
Canada Crude Oil
Heavy
High Viscosity
High sulfur content
More cost to refine
Canada has refineries to refine crude oil but ships most to U.S refineries
Travels by
Waterways
Rail Networks
US to Canad SHippign Routes
Canada Oil goes from here → US (ror refinement) → Overseas
formed through heat and compression over millions of years of dead life (fossil)
plants and animals die > fall to bottom of the ocean > decay (over time) > New Layers rock and sediment pile on top (over millions of years > fossils subject to heat and pressure (cooked) > different heat and pressure leavels leave different gas and oils
Shale is source rock for moist oil and gas
Conventional Development - Over years oil and gas rises into rock traps called cap-rocks/seals
These formations are what companies “tap”
Tap the well > Vertical wells going down > pressure sends oil/gas to surface
Advances of technology have allowed for mining of source rock
it is now economical to mine source rock
Horizontal drilling
Hydraulic Fracturing
Once well is drilled Hydraulic Fracturing takes places
Millions of gallons of water and sand
High pressure water pumps bores into and fractures rock
sand stays there to help keep cracks open
“Unconventional” production: Oil Sands
Canada (mostly here)
Venezuela
United States
Sands mining
oiul sands close to surface usually strip mined
processed seperately so sand and rock seperate from oil
In Situ Production
Most of the oil sand will be pulled this way
2 wells 1 pumping steam, 1 other oil
heating oil and liquifying oil comes up to the surface
After crude oil is produced it is refined and transported in various ways
Refinement
Gasoline
Diesel
Jet Fuel
Other Products
Transportation
Pipeline
Rail
Truck
Cargo Tankers
Spectrum of oils and gases they make are different and are suited for different products
refineries are concentrated around the gulf-coast and population centres (in USA)
Transported from well to processing facility
Methane is seperated from natural gas molecules like propane, butane
Transported and sold seperately after molecule seperation
Butane (lighters)
Propane (BBQ)
Methane (Gas stove tops)
Supply Chain for petroleum products
Costs from High to low
Crude Oil makes up majority of the cost
Taxes
Refinement
Distribution
Marketing
Crude oil affects the price of petroleum products greatly
Oil prices are global, natural gas prices are regional
Global disruptions in one part of the world affects prices for oil worldwide
Natural gas fluctuates from region-to-region
Priced regionally as opposed to globally
reason is there is only one major method of transportation
pipelines
LNG (Liquiefied Natural Gas)
Supercoded NiG
Can be shipped on Tanker worldwide
More expensive
Liquification costs
Shipping costs
Biggest event in last 25 years since Iranian revolution
Allowed U.S to increase production of Natural Gas
Used same technology to increase Natural Gas production to increase oil production
Main sources
Permian Basin (West Texas / East New Mexico)
Bakken / Threeforks (West North Dakota)
Eagle ford (South Texas)
Cheap Natural Gas makes clean power transition possible in transitioning from Coal → Renewables
Upstream: Exploration and Production
Independent oil and gas firms: Anadarko, Apache, Chesapake
Oilfield services: Haliburton and Schulmberger
Midstream: Distribution
Kinder Morgan, Enbridge, Crude-by-rail
Downstream: Refining and Marketing
Oil: Valero, Marathon, Sunoco, Tesoro
Gas: Indpendent Midstream firms, delivery by utilities
ExxonMobil
Chevron
Shell
BP
Venezuela
303.8B (17.5%)
Saudia Arabia
297.5 B (17.2%)
Canada
168.1 B (9.7%)
Iran
157.8B (9.1%)
Iraq
145 B (8.4%)
Russia
107.8 B (6.2%)
Kuwait
101.5 B (5.9%)
United Arab Emirates
97.8 B (5.6%)
United States
68.8 B (4.0%)
Libya
48.4 B (2.8%)
Canadian Natural Resources Limited (CNRL): This is one of the largest independent crude oil and natural gas producers in the world, with operations in Canada, the United Kingdom, and offshore West Africa.
Suncor Energy: This is a leading integrated energy company with operations in Canada, the United States, and internationally.
Cenovus Energy: This is an integrated oil and natural gas company with operations in Canada and the United States.
Imperial Oil: This is a leading Canadian oil and gas company with operations in Canada, the United States, and offshore in the Atlantic.
Husky Energy: This is a Canadian-based integrated energy company with operations in Canada, the United States, and internationally.
Enbridge: This is a leading energy infrastructure company with operations in Canada and the United States. It is involved in the transportation, distribution, and storage of crude oil and natural gas.
TransCanada Corporation: This is an energy infrastructure company with operations in Canada, the United States, and internationally. It is involved in the transportation, distribution, and storage of crude oil and natural gas.
Canadian Pacific Railway (CPR): This is a transportation company with operations in Canada and the United States. It is involved in the transport of crude oil, as well as other goods and commodities.
Canadian National Railway (CN): This is a transportation company with operations in Canada and the United States. It is involved in the transport of crude oil, as well as other goods and commodities.
ExxonMobil: This is a multinational oil and gas company with operations in more than 50 countries. It is one of the largest oil and gas companies in the world by revenue.
Chevron: This is a multinational energy company with operations in more than 180 countries. It is one of the largest oil and gas companies in the world by revenue.
ConocoPhillips: This is an international energy company with operations in more than 30 countries. It is one of the largest independent oil and natural gas exploration and production companies in the world.
BP: This is a multinational energy company with operations in more than 70 countries. It is one of the largest oil and gas companies in the world by revenue.
Royal Dutch Shell: This is a multinational energy company with operations in more than 70 countries. It is one of the largest oil and gas companies in the world by revenue.
Anadarko Petroleum: This is an independent oil and natural gas exploration and production company with operations in the United States, Africa, and the Middle East.
Marathon Oil: This is an independent oil and natural gas exploration and production company with operations in the United States, Canada, and internationally.
Devon Energy: This is an independent oil and natural gas exploration and production company with operations in the United States and Canada.
EOG Resources: This is an independent oil and natural gas exploration and production company with operations in the United States, Canada, and internationally.
Apache Corporation: This is an independent oil and natural gas exploration and production company with operations in the United States, Canada, and internationally.
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