Sunday, July 24, 2005

Canadian Oil Production To Spike 3.9 Mbpd By 2015

Canadian oil production is scheduled to increase by 3.9 million barrels per day by 2015, according to recent estimates by the Canadian Association of Petroleum Producers. Nearly of that increase is attributed to the huge addition of oil sands projects, but some of it was due to mitigation of depletion rates from existing oil wells, as well as a doubling of production offshore of Newfoundland.