Market News
Canada’s Oil Sands Emissions Intensity Falls for Sixth Year - BLOOMBERG
Canada’s oil sands industry reduced its emissions per barrel for the sixth straight year in 2023, even as one growing portion of the sector moved in the opposite direction, according to new Alberta government data released Thursday.
The emissions intensity of all oil sands sites fell to the equivalent of 0.399 metric tons of carbon dioxide per cubic meter of bitumen produced, down from 0.404 in 2022, the data show. The gain reflects improvements at oil sands mines, where bitumen is dug from the ground. However, in situ oil sands, which use wells similar to traditional oil producers, saw emissions per barrel rise.