What are Oil Sands?

Oil sands are unconventional, naturally occurring petroleum deposits formed through a mixture of sand, clay or other minerals, water and bitumen - heavy, viscous, tar-like form of petroleum that requires treatment before it can be used by refineries to make useable fuels. Oil sands can be found in many locations around the world, such as the Middle East the US and Russia, however, the largest deposits are found in Venezuela and Alberta, Canada. Alberta has three large deposits, Peace River, Cold Lake and Athabasca. The Athabasca deposit is the largest oil sand deposit and accounts for the large scale development around Fort McMurray. Oil sands are considered part of the world’s oil reserves that can be extracted profitably and upgrades into usable oil products.