It is a complex mixture of several hydrocarbons, which are compounds consisting of hydrogen and carbon. New pipeline and refining capacity will also be required to accommodate supply and market requirements.Ĭrude oil is a naturally occurring, flammable liquid found in rock formations in the Earth. In coming years, the Canadian oil sector will be dominated by the pace of oil sands development.
This has resulted in increased revenues for Canadian producers and higher prices for Canadian consumers. Over two-thirds of the refined petroleum products sold in Canada are used for transportation: gasoline, low-sulphur diesel and aviation fuel.Īfter a period of low and relatively stable prices during the 1990s, crude oil prices have risen in recent years in international markets. Oil is the most important energy source used in Canada, ahead of natural gas and electricity. The three main refining centers in Canada are in Edmonton (Alberta), Sarnia (Ontario) and Montreal (Quebec). In 2006, exports reached $38 billion and imports amounted to $23 billion.Ĭanada has an extensive network of pipelines carrying crude oil to domestic refineries. Domestic oil is exported from the western provinces while the eastern provinces import international oil. While conventional resources continued to account for more than half of crude oil production, most of the production growth in recent years has come from oil sands.Ĭanada is a net exporter of crude oil. At the end of 2006, Canada's remaining established reserves amounted to 179 billion barrels, of which more than 95 per cent are in the form of crude bitumen in oil sands.Ĭrude oil production has been increasing fairly steadily during the last two decades.
Hydraulic fracturing has been used by the industry to safely stimulate oil and gas production in North American conventional reservoirs for more than 60 years.Īlthough shale gas development is a relatively mature industry in the United States (with more than 40 000 producing wells), shale gas is still in its nascent stages in Canada.Ībout Crude Oil and Petroleum Products Key DescriptorsĬanada's proven oil reserves are second only to Saudi Arabia's. Technological advancements in drilling (long-reach horizontal well bores) and completion techniques (multistage hydraulic fracturing) have allowed commercial production of natural gas from shales, which has increased the long-term outlook for the supply of natural gas in North America. For example, GHG emissions from natural gas combustion are approximately 30 percent cleaner than those from oil and 45 percent cleaner than those from coal. Natural gas offers the potential to replace fuels that produce more greenhouse gases (GHGs) and that are currently used for power generation, heating and transportation. Current research estimates that the natural gas supply in North America, largely in the form of shale gas, will last more than 100 years. Natural gas is an important transition fuel for a low-carbon economy, because it is cleaner burning than any other fossil fuel and is in abundant supply. It has become a popular fuel for residential, commercial and industrial applications. Natural gas is a relatively clean-burning, abundant and efficient source of energy. Most of the current drilling and production activities are occurring in northeast British Columbia in the Montney and Horn River shale basins. In Canada, potential and producing shale gas resources are found in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick and Nova Scotia. Shale gas is emerging as the new low-cost source of natural gas in North America. Regional prices reflecting market forces, including transmission costs, are established within this market. As part of a fully integrated and continental natural gas market, Canada moves its natural gas resources seamlessly across provincial and national borders, from supply basins to demand centres. Canada is the world's third-largest producer and exporter of natural gas.
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