The Financial Post reports in its Saturday, June 7, edition that Canada's oil sands industry reduced its emissions intensity for the sixth consecutive year in 2023, with emissions per barrel dropping to 0.399 metric tonnes of CO2 from 0.404 in 2022. A Bloomberg dispatch to the Post reports that this improvement is mainly due to advancements at oil sands mines. However, in situ oil sands operations saw an increase in emissions. Despite the efficiency gains, total emissions rose to 80.1 million metric tonnes of CO2, marking the highest levels since 2011. The rising emissions intensity at well sites presents a challenge for the sector, as the method's lower costs make it increasingly popular among producers. S&P analyst Kevin Birn notes that oil sands producers have higher average emissions than the global oil industry, but their profiles vary significantly. He says oil sands emissions fall within the global range for oil and gas carbon intensity. All oil sands mines reduced emissions intensity, with Canadian Natural Resources' Horizon showing the largest improvement. Strathcona Resources' Tucker had the biggest emissions increase, while CNRL's Wolf Lake and Primrose Plant saw the largest drop.
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