North America oil sands market: $26 billion industry in 2013

Press Release   •   Feb 25, 2013 15:09 GMT

The North America oil sands market is forecast to reach a value of around $25.8 billion by the end of 2013. Over the last few decades oil sand companies have been experimenting with new ways of extracting oil from bituminous resources. Gradually since 2000, oil production from oil sands have become an increasingly viable option, and with the price of oil rising, the extraction of oil through steam injection and mining has become profitable.

The Canadian oil sands are the largest free-market source of hydrocarbons in the world and are the third largest oil resources after Venezuela and Saudi Arabia. The estimated recoverable oil from the Canadian oil sands is between 169-174 billion barrels and unlike other regions of the world, Canadian and US governments have raised few national barriers to control these resources. The future growth of oil sand production is influenced by a number of factors such as the price of Canadian crude oil, the capacity of pipelines out of Alberta and access to other export infrastructure such as railways and shipping routes to international markets.

The North American Oil Sands Market 2013-2023 report will look into opportunities, threats and regulations that will shape the oil sands market over the coming years. It will discuss the factors shaping the market such as technological improvements, while also look at challenges such as that from environmental opposition. We report on the development of the North American oil sands market with an open mind and portrays this industry according to the facts and figure only.

For more information on the North America oil sands market, please click here: North America oil sands market

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