Canada has an extensive resource base in its bitumen and heavy oil deposits. Heavy crude is now the largest single category of Canadian crude oil production. Although some bitumen is marketed directly, much of the bitumen produced is converted to synthetic crude, and synthetic crude production is now one of the largest sources of Canadian light crude. Further development plans of both synthetic crude and bitumen/heavy crude are planned, and new market development will be required in order to absorb this new production. This paper discusses the potential of market developments for heavy crude and synthetic crude.
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