May 24, 2024

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Canadian oilsands producers — struggling to shake off their picture as pumping among the dirtiest crude on this planet — logged a uncommon win final yr: Emissions held regular at the same time as manufacturing elevated.

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It’s the primary time emissions haven’t climbed absent a serious market disruption and decline in output, S&P World Commodity Insights stated, citing its data going again to 2009.

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“That emissions held regular at the same time as manufacturing grew is a big first,” stated Kevin Birn, the group’s chief analyst for Canadian oil markets.

Absolute emissions remained flat at 81 million metric tons of carbon dioxide whereas whole oilsands output rose by greater than 50,000 barrels a day to three.1 million barrels a day, S&P stated. Emissions ranges held as output from extra environment friendly websites elevated. Since 2009, the common emissions depth of oilsands manufacturing has dropped by 23 per cent.

Additional enhancements are anticipated within the years forward, although Birn warned final fall the sector’s emissions might worsen earlier than getting higher.

Bloomberg.com