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Ernst & Young: Oilsands top 10 risks list

By Rob Starr, Content Manager,

Above the ground — or below — opportunities and challenges in Canada’s oilsands sector, particularly around access to markets, talent and capital, are creating a new environment for players, according to Ernst & Young’s annual report, Exploring the top 10 opportunities and risks in Canada’s oilsands 2012-13.

“Accelerating growth without giving up competitive advantage is a balancing act,” says Lance Mortlock, Partner in Ernst & Young’s Oil and Gas practice. “Securing adequate returns on investment requires companies to have a complete understanding of their risk profile and risk appetite. Successful partnerships should protect your company’s competitive resources while furthering your position in the marketplace.”

Top 10 risks
for oilsands companies in 2013:
  1. Rising supply and falling
    demand in the US
  2. Market access and
    infrastructure constraints
  3. Cost inflation
  4. Labour availability
  5. Environmental impact
  6. Reputation management
  7. Large upfront capital investment
  8. Changing policy and regulations
  9. High demand for water
  10. First Nations relations

Collaboration enables companies to share costs and mitigate a number of this year’s top risks by sharing leading practices in areas such as technology, environmental reclamation, social and economic performance as well as creating a common labour pool to maximize resources.

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