Major oil sands producers are talking continued capital discipline
Oil sands producers keep the reins tight
No extravagant spending is planned ahead of a capital-intensive push towards a lower carbon footprint
Canada’s oil sands producers are rolling in cash with crude oil prices hovering around $80/bl. But after suffering near death-experiences during the worst of the Covid crisis in the first half of 2020, and with net zero coming to dominate the global energy agenda, there is absolutely no talk in downtown Calgary of boosting capital spending to fund new oil sands mega-projects. Instead, major oil sands producers are talking continued capital discipline. Relatively modest production growth through debottlenecking current operations and small-scale brownfield projects is also on the agenda, especially with Prime Minister Justin Trudeau committing at Cop26 in Glasgow to cap emissions on the count
Also in this section
12 December 2025
The federal government is working with Alberta to improve the country’s access to Asian markets and reduce dependence on the US, but there are challenges to their plans
12 December 2025
The latest edition of our annual Outlook publication, titled 'The shape of energy to come: Creating unique pathways and managing shifting alliances', is available now
11 December 2025
The removal of the ban on oil and gas exploration and an overhaul of the system sends all the right messages for energy security, affordability and sustainability
10 December 2025
The economic and environmental cost of the seven-year exploration ban will be felt long after its removal
