New Study Finds Heavy Oil Projects Ramping Up

Sep 24, 2012, 06:30 ET from Hart Energy

HOUSTON, Sept. 24, 2012 /PRNewswire/ -- Hart Energy's newly released study, Heavy Crude Oil: A Global Analysis and Outlook to 2035, finds there are significant heavy crude projects being developed in every country in the world, and they must compete with other new sources of oil for investments.

"Heavy oil is plentiful around the globe," said Laura Atkins, lead author of the study. "It will become an increasingly important source of new crude supplies in the future."

In North America, increasing volumes of Canadian heavy crude must fight for infrastructure capacity with rapidly increasing shale oil production. Significant volumes of heavy crude will enter the export market over the next 20 years.

The study highlights:

  • Country-by-country analysis
    • Resources, maps, and state of development
    • Company activities
    • Costs
    • Infrastructure analysis (where applicable)
    • Forecasts of unconventional and conventional heavy oil production
    • Disposition by country and region
    • Diluent requirements for extra-heavy crude and bitumen
  • Heavy crude value and pricing analysis
    • Valuation of heavy crudes in the refining market
    • Prices and differentials
  • Global summary and implications
    • Global oil supply vs. demand
    • Global disposition and processing of exported heavy crude

A webinar on the study findings, "Heavy Crude Oil: A Global Contender," will be held on Thursday, October 25, 2012. Contact Zach Muroff (+1.713.260.6429 / to participate.

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About Laura Atkins
Laura Atkins, Hart Energy's director of petroleum research, has 20-plus years in the upstream oil and gas industry, including three years at OPEC as a senior research analyst for energy technology. She received a B.S. in chemical engineering from Tulane University and a master's degree in public administration from Harvard University. Atkins has authored Hart Energy's Global Shale Study and Heavy Crude Oil Outlook.

Hart Energy provides specialized data/information products and member-only services to targeted audiences worldwide and ranks among the leading providers of news, data, and analysis for the global energy industry. Its core publishing and consulting expertise has been extended to online products (databases, maps) and services (websites, market information) as well as industry conferences and exhibitions (DUG). Hart Energy clients derive from the energy industry, the financial and investment community, engineering and automotive industries, utilities, leading NGOs, and the world's major governments.


Susan D. Emfinger

tel +1.713.260.1069

SOURCE Hart Energy