Subscribe free to our newsletters via your
. Military Space News .




OIL AND GAS
Canada set energy sector records last year
by Daniel J. Graeber
Calgary, Alberta (UPI) Jul 16, 2015


disclaimer: image is for illustration purposes only

A federal Canadian report on the energy sector pointed to a strong 2014, though industry groups this year suggest rough waters are ahead in a weak oil market.

The National Energy Board, the federal regulator, released a report on full-year 2014 production. Though crude oil prices fell roughly 50 percent from June 2014 to year's end, the NEB said the energy sector was resilient and export revenue of $100 billion set a record.

Total Canadian crude oil production in 2014 increased by 7.9 percent year-on-year to around 3.75 million barrels per day.

"This growth is largely attributed to increased oil sands production, including several new in situ bitumen projects coming on-line and increased tight oil production in the Western Canadian Sedimentary Basin," the NEB reported.

Oil sands represented 58 percent of total 2014 production, with output from Alberta accounting for 77 percent of total Canadian production followed by Saskatchewan with 13.8 percent. Production from offshore Newfoundland and Labrador declined by 5.8 percent year-on-year because of field maintenance and maturation, NEB said.

This year, the Canadian Association of Petroleum Producers said it estimated total Canadian oil production would reach 5.3 million barrels per day by 2030. In June 2014, when crude oil prices were above the $100 barrel mark, CAPP estimated 2030 output at 6.4 million bpd.

CAPP expects oil sands production to reach 4 million bpd, conventional oil to 1.3 million bpd and offshore to 91,000 bpd by 2030.

Also this year, the Canadian Association of Oilwell Drilling Contractors said it was revising downward its drilling forecast because of lower crude oil prices and changing market conditions in the resource-rich province of Alberta.

More than 25,000 total jobs are expected to be lost in the Canadian exploration and production sector this year, the production group said.


Thanks for being here;
We need your help. The Space Media Network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceMediaNetwork Contributor
$5 Billed Once


credit card or paypal
SpaceMediaNetwork Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





OIL AND GAS
Wait and see on Iran, oil voices say
Washington (UPI) Jul 15, 2015
A U.S. refinery group said it's too soon to discuss doing business in the Iranian oil sector, though opposing voices said it was a threat to domestic producers. A deal brokered in Vienna between Iran, the five permanent members of the U.N. Security Council, plus Germany, would ease sanctions pressure constricting the Iranian energy sector in exchange for sweeping restrictions on its con ... read more


OIL AND GAS
US Awards Contract to Develop Missile Defense Command System

US Authorizes 'Forward-Based' Missile Defense System for Allies

USAF Early Warning Satellites Get No-Cost Update from Lockheed Martin

Boecore to support Army missile defense

OIL AND GAS
Russia to launch space based missile warning system

The Hypersonic Missile Arm Race

MBDA France orders MMP missile warheads

Chinese Navy simulates combat missile resupply in first ever drill

OIL AND GAS
Drone postal deliveries begin in Switzerland

Thales, IAI demo new NATO STANAG 7085 data link on UAV

US drone strikes target militants on Afghan-Pakistan border

Open Secrets from X-37B

OIL AND GAS
Lockheed Martin set to advance RF sensors development

Navy engineer invents new data transmission system

Fourth MUOS arrives in Florida for August launch

Airbus DS unveils new mobile welfare communication portfolio

OIL AND GAS
23 conscripts killed in Russian military barracks collapse

Lockheed Martin gains spot on Army IDIQ contract

New-Generation Electronic Warfare: More Russian Troops Equipped

Army includes special ammunition in hunt for new handgun

OIL AND GAS
US military to consider transgender troops

State Dept. gives nod to possible border security system sale to Egypt

Russia wants Iran arms embargo 'lifted as soon as possible'

UN restrictions on arms, missiles to stay in Iran deal: US

OIL AND GAS
Russia poses 'greatest threat' to US national security: Dunford

Dark mystique of French Foreign Legion keeps drawing foreigners

Dozens of Russian troops 'flee unit, fearing Ukraine deployment'

Japanese envoy to visit China ahead of possible summit: reports

OIL AND GAS
Nanowires highly 'anelastic'

Chemotherapeutic coatings enhance tumor-frying nanoparticles

Ultra-thin, all-inorganic molecular nanowires successfully compounded

Superslippery islands (but then they get stuck)




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.