Category: Resources

OilGasThe World Energy Outlook estimates that global energy demand will grow by approximately 30% by 2040 and fossil fuels will account for 77% of energy use at that time.1 Total Canadian oil production is expected to increase to 5.6 million barrels per day (bpd) by 2035 – an increase of 1.4 million bpd compared to production in 2017. Western Canada accounts for about 95 per cent of the country’s total production.2 Canada has the third largest amount of proven oil reserves in the world and total supply of Western Canadian Crude Oil is forecasted to grow by almost 40% by 20303. With the majority of Canadian reserves located in the Western Canadian Sedimentary Basin, Western Canada and Saskatchewan will play a major role in meeting the demand growth.

  • Saskatchewan is Canada’s second-largest oil producer.3
  • Saskatchewan ranks #7 for petroleum exploration and development investment potential and has consistently ranked in the top 10 for the past five years.4
1International Energy Agency, 2017
2Canadian Association of Petroleum Producers, 2018 Crude Oil Forecast, Markets and Transportation report, June 2018
3Canadian Association of Petroleum Producers, 2017
4Fraser Institute Global Petroleum Survey, 2017

Provided below are examples of Resource investments within Westcap's portfolio: