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
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
