The oil sands industry contributes immensely to the Alberta economy. Several factors such as climate change, electrification of vehicles and regulations encompassing combustible products can influence this industry. Therefore, it is a wise decision to explore the different products that can be obtained from oil sands apart from combustion products. One of these non-combustion products is graphene, which is a unique material possessing extraordinary mechanical, chemical, thermal and electrical properties. The primary focus of this project is to explore the energy, economic and environmental impact associated with production of graphene from oil sands. After evaluating the interdisciplinary aspects of graphene, its opportunities, limitations and challenges are discussed in this project.