Canadian heavy crude production seen rebounding early next decade

Steven J. Kelly Purvin & Gertz Inc. Calgary Syncrude Canada Ltd.'s oilsands plant in the Athabasca oilsands area of Alberta has been a major contributor to a recent rise in heavy oil production in Western Canada. This aerial view shows the plant facing northeast, with the feed dump pocket on the right and the extraction plant on the left. Photo courtesy of Syncrude Canada. Heavy crude oil production [28,807 bytes] The Canadian heavy crude oil sector has taken some tough knocks in the past year. The blows came mainly as a result of fallout from the Asian financial crisis and a resulting decrease in petroleum demand and oil prices. Price...

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