Alberta oil and gas sector on track for record production [Video]

Alberta’s energy sector is set for a record year in production according to analysts, following the province’s best January ever.

According to ATB, crude oil is seeing increased production with 3.81 million barrels per day in January.

That follows a record-setting year of 1.4 billion barrels of oil produced in 2023.

“Right now, we see us going into the turnaround season in western Canada which will pull off pressure on the overall basin last through most of the middle part of the year,” says Kevin Birn, an analyst with S&P Global Commodity Insights.

“But as we head towards the winter of next year, we see production building, we see production hitting record heights again.”

Next month, the multi-billion dollar Trans Mountain (TMX) pipeline expansion is expected to begin filling up, and triple the capacity of the pipeline to 890,000 barrels daily.

“And that’s really the importance of TMX. We see …