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Canadian Oil Sands

Title: Canadian Oil Sands
Category: Energy
Clicks: 3
Added on: Nov 26, 2011
PageRank:
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Canadian Oil Sands is a Canada-based company which generates profits from its investment in the Syncrude Project. Its oil sands facility has a capacity of 350,000 barrels and produces high-quality crude oil from oil sands mined at deposits in northern Alberta.

Canadian Oil Sands was established in 1995 and is headquartered in Calgary. Known as Canadian Oil Sands Trust, in 2010, the company changed its name to Canadian Oil Sands. As of 2009, it had probable and proved reserves of over 5 billion barrels of crude oil.

The company engages in upgrading and mining of bitumen and operates bitumen extraction plants, utilities plants, and oil sands mines. A number of companies have ownership in the Syncrude Project, among which Nexen Oil Sands Partnership, Canadian Oil Sands Partnership, and Canadian Oil Sands Partnership. Syncrude Canada Ltd. is tasked with administering the Syncrude Project and operates it on behalf of the owners. The company has an agreement with Imperial Oil Resources, according to which it has access to Imperial’s best practices and expertise, as well as to those of ExxonMobil, its majority owner, in areas such as energy management, environment performance, safety and procurement, and maintenance. The Syncrude Project operates through four main technologies – utilities, upgrading, mining, and extraction. The main activities are mining oil sands, extracting bitumen or raw oil, and upgrading it to light crude oil. During the upgrading process, raw oil is subjected to hydrotreating, hydroprocessing, reblending, and fluid cooking. Oil produced in this way is transported to refineries throughout the United States and Canada. It is ideal for jet fuel, diesel, gasoline, and chemical feedstocks. The lower content of nitrogen and distillate sulphur allows the refiners in North America to meet the strict environmental requirements.

The utilities operations at Syncrude generate mainly electricity and steam, treating water, which is necessary for plant operations. Syncrude not only generates electrical power but exports electricity to the power grid of Alberta.

The main competitors of Canadian Oil Sands are Imperial Oil Limited, Canadian Natural Resources Limited, and Encana Corporation, among others. The company is listed on the TSX under the symbol COS.
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