About Pembina Institute
Pembina Institute is a non-profit organization. It provides research, analysis, and recommendations to inform policies and practices related to energy. It specializes in environmental consulting, non-profit management, policy research, clean energy, and renewables. It was founded in 1985 and is based in Calgary, Canada.
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Latest Pembina Institute News
May 30, 2023
Global energy giant ConocoPhillips Co. can invest almost anywhere in the world, as it searches for new oil and gas reserves and delivers its sustainability strategy – but its biggest bet is in Alberta. The Houston-based company forecasts spending up to US$11.3-billion this year on projects in Alaska, Australia, Malaysia, Norway, Qatar and the Midwestern U.S., while also lowering its greenhouse-gas emissions (GHGs). Standing on top are the Alberta oil sands, which many international energy players exited over the past decade, in part because of environmental concerns. The region received a $4.4-billion vote of confidence on Friday from ConoccoPhillips. If money talks, then several billion dollars just professed its love for Fort McMurray, and an industry that is central to Alberta’s economic future. ConocoPhillips’ decision to acquire the 50-per-cent stake in the Surmont project it didn’t own, elbowing rival bidder Suncor Energy Inc. out the way, signalled a sea change in sentiment. Energy companies now see a way to increase oil-sands production, while still hitting aggressive GHG reduction targets . The economics in Alberta are compelling for ConocoPhillips. Owning all of Surmont is expected to boost the company’s free cash flow by US$600-million annually. In a report, analyst Scott Hanold at RBC Capital Markets said taking full control of the project “makes logical strategic sense and helps to bolster the company’s leading cost of supply, break-even point, and free cash flow outlook.” But rather than just talk about how much money his company will make in Alberta, ConocoPhillips chief executive officer Ryan Lance highlighted how the acquisition fits into the company’s sustainability strategy. “We look forward to leveraging our position as 100 per cent owner and operator of Surmont to further optimize the asset while progressing toward our overall interim and long-term emissions intensity objectives,” said Mr. Lance in a press release announcing the deal. ”We will remain on track to achieve our previously announced accelerated GHG intensity reduction target of 50 to 60 per cent by 2030.” Analysts see the company hitting both sustainability and financial goals. In a report, Paul Cheng at Scotiabank said: “ConocoPhillips is focused on growing production, structurally lowering costs, and reducing GHG emissions intensity.” ConoccoPhillips opted to stick around after a long list of global players quit the oil sands, citing GHG emissions, including Surmont seller TotalEnergies SE of France. Shell PLC, Norway’s Statoil ASA and Marathon Oil Corp. also bailed out. ConocoPhillips’ decision to double down on Surmont, rather than hand half the project to Suncor, is a bet on technology such as carbon capture and storage, or CCS. In a recent investor presentation, the company outline how it plans to hit net-zero emission in the oil sands by 2050. ConocoPhillips projects a third of the reduction will come from existing approaches, a third from new technology and the remainder from CCS. Can Surmont hit these goals? In the next two or three years, experts at the Pembina Institute – a Calgary-based think tank focused on the energy transition – predicted that all oil-sands producers will struggle to meet emission-reduction targets. Projects such as a $16.5-billion CCS facility in Northern Alberta are taking too long to permit and build. In the long term, the Pembina Institute says ConocoPhillips and the five other deep-pocketed partners in the Pathways Alliance, a group of oil-sands producers, have the resources and skills needed to deliver both the oil that fuels the economy and the GHG cuts that will save the planet. “Given the available technologies for lowering emissions that have already proven to be viable at a commercial scale, there is an argument that Canada’s oil and gas sector as a whole – with the oil sands as a substantial subsector – is better positioned than other parts of the Canadian economy to meet or exceed Canada’s 2030 emissions reduction targets,” said the Pembina Institute in a recent report. From wildfires to foreign energy company departures, there hasn’t been much to celebrate in Fort McMurray in recent years. ConocoPhillips’ decision to search the world for opportunities, and end up in Alberta, marks a reversal for fortune.
Pembina Institute Frequently Asked Questions (FAQ)
When was Pembina Institute founded?
Pembina Institute was founded in 1985.
Where is Pembina Institute's headquarters?
Pembina Institute's headquarters is located at 322 - 11 Avenue SW, Calgary.
Who are Pembina Institute's competitors?
Competitors of Pembina Institute include Expert Networks and 4 more.
Compare Pembina Institute to Competitors
Expert Networks is a unit of The American Energy Society, a private network of experts and subscribers dedicated to pursuing an enduring energy future. The company connects members to experts and rich content, fostering dialogue and collaboration in all things energy. American Energy Society offers a service to our Premium Members called Expert Link. Through this service, members request recommendations of, and introductions to, energy experts for the full array of their professional needs. Members define the parameters of their searches, from the reason for the retention to the expert's business sector or geographic location and the company's professional staff works closely with those members to find the experts who are the best fit.
Earthwatch Europe is a non-profit organization. It aids companies in comprehending how their actions affect the environment, developing resilience, and exhibiting sustainability leadership. It delivers educational experiences that have a positive influence on the environment by combining science and involvement. Earthwatch Europe was founded in 1971 and is based in Oxford, United Kingdom.
BloombergNEF (BNEF) is a strategic research solutions provider. It specializes in providing research services covering clean energy, advanced transport, digital industry, materials, and commodities markets. The company caters to utilities and generation, oil & gas, equipment manufacturers, the banking and finance industries, as well as government entities. The company was founded in 2004 and is based in London, United Kingdom.
Elio builds a data platform to centralize, structure, and analyze climate change data to provide big-picture climate intelligence. The company enables analysts in companies and governments to respond to climate change's dynamism and rapidly act on climate solutions. It was founded in 2021 and is based in Cambridge, Massachusetts.
Loop helps organizations understand, create, and calculate social value and community benefit. Its social value software allows users to forecast, monitor, and evaluate the entire life cycle of a project. It primarily serves clients across the construction, infrastructure, public sector, and financial industries. The company was formerly known as Social Profit Calculator and changed its name to Loop. It was founded in 2016 and is based in Hull, United Kingdom.
Theia Analytics Group is a quantitative applied analytics company building a suite of SaaS products to create a governance-focused intelligence engine. The company specializes in aiding global stakeholders in exposing regulatory and policy risks to help align strong governance to meet Environmental, Social, and Governance (ESG) goals. The company was founded in 2017 and is based in Washington, DC.
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