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
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
24 April 2026
The European Commission’s response to the Middle East crisis is to double down on its transition strategy, with plans for a new target on electrification
24 April 2026
A major new discovery by Eni and BP that can likely be fast-tracked to production is welcome news for Egypt as it scrambles to plug a widening supply gap and deal with rising import risks
