Related Articles
Forward article link
Share PDF with colleagues

Canada's great IOC exodus

International oil companies are fleeing the oil sands for greener pastures elsewhere

After spending decades pumping billions of dollars into northern Alberta, the world's majors are quickly abandoning Canada's oil sands. In two blockbuster deals worth almost C$30bn ($22.37bn) that came within a week of each other, Shell and ConocoPhillips became the latest to downsize their bitumen positions. Total and Statoil exited last year. In doing so, it raises the question of whether one of the planet's largest oil deposits is as valuable as it once was in a new era of abundance brought on by cheaper supplies of tight oil. What used to be the epicentre of the world's last big gold rush evidently now looks—to foreign investors, anyway—too rich. Shell's retreat, in particular, was a

Also in this section
Energy Web Atlas Partners with Stanford University’s Natural Gas Initiative to Leverage LNG Real-Time Global Project Information
12 April 2018
Gulf Publishing Company, a leading provider of data and technical information for the global energy industry, announced today that Energy Web Atlas (EWA) has entered into a partnership with Stanford University’s Natural Gas Initiative (NGI). EWA is a platform that allows users to examine real-time natural gas project information.
KPC—outside the political bubble
3 April 2018
Kuwait Petroleum Corporation is expanding its global footprint as it targets increased domestic oil and gas capacity
Adnoc opens up
28 March 2018
The company now faces a group-wide transformation