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The petroleum industry in Canada is also referred to as the "Canadian Oil Patch"; the term refers especially to upstream operations (exploration and production of oil and gas), and to a lesser degree to downstream operations (refining, distribution, and selling of oil and gas products).
Although the conventional oil and gas industry in western Canada is mature, the country's Arctic and offshore petroleum resources are mostly in early stages of exploration and development. Canada became a natural gas-producing giant in the late 1950s and is second, after Russia, in exports; the country also is home to the world's largest ...
Beaufort Sea exploration activity followed oil prices: it was kick-started by the Arab Oil Embargo in 1973 and withered as prices fell in the early 1980s. Canada's National Energy Program, which was announced just as prices peaked in 1980, imposed price controls on Canadian oil and further suppressed investment.
Oil sands deposits in Alberta, Canada. It is difficult to grasp the immensity of Canada's oil sands and heavy oil resource. Fields in northern Alberta include four major deposits which underlie almost 70,000 square kilometres of land. The volume of bitumen in those sands dwarfs the light oil reserves of the entire Middle East.
QatarEnergy has signed a deal for a 40% stake in one of ExxonMobil’s major offshore explorations in Canada, the Qatar state-owned oil and gas firm said on Sunday. The agreement will give ...
Newfoundland and Labrador is the third largest petroleum producer in Canada, making up 4.4% of Canada's petroleum. As of 2015, the province produced over 27,370 m 3 per day of light crude oil from the Grand Banks offshore oil fields. [1] The Jeanne d'Arc Basin is the province's most active oil field project.
In early 2000, as Murphy Oil, Apache (now APA Corporation), and Beau Canada announced their discovery of the Ladyfern Slave Point gas field in a remote area of Northeastern British Columbia, their achievement seemed to herald a new era of successful wildcat exploration. As word of a major discovery leaked out, many of the significant players in ...
The city itself is a big part of central Canada’s petroleum market. Near the 1857 Oil Springs discovery, Sarnia became a refining centre during Ontario’s 19th-century oil boom and a petrochemical centre during World War II. Sarnia has underground salt formations like those at Fort Saskatchewan.