South America / GoM

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Summary | Profile

Country profile: Canada

Location: Northern North America, bordering the North Atlantic Ocean on the east, North Pacific Ocean on the west, and the Arctic Ocean on the north, north of the conterminous US
Climate: varies from temperate in south to subarctic and arctic in north
Terrain: mostly plains with mountains in west and lowlands in southeast
Size: 9984670 sq. km total (Land area: 9093507 sq. km  Water area: 891163
Population: 33,212,696 (July 2008 est.)
Languages: English (official) 59.3%, French (official) 23.2%, other 17.5%
Government: constitutional monarchy that is also a parliamentary democracy and a federation
Capital city: Ottawa
Legal system: based on English common law, except in Quebec, where civil law system based on French law prevails; accepts compulsory ICJ jurisdiction, with reservations
Currency: Canadian dollar (CAD)

Country profile

Canada has considerable natural resources and is one of the world’s largest producers and exporters of energy. In 2005, Canada produced 19.1 quadrillion British Thermal Units (Btu) of total energy, the fifth-largest amount in the world. Since 1980, Canada’s total energy production has increased by 86 percent, while its total energy consumption has increased by only 48 percent during that period. Almost all of Canada’s energy exports go to the United States, making it the largest foreign source of U.S. energy imports: Canada is consistently among the top sources for U.S. oil imports, and it is the largest source of U.S. natural gas and electricity imports.

Recognizing the importance of the energy trade between the two countries, both participate in the North American Energy Working Group, which seeks to improve energy integration and cooperation between Canada, the U.S., and Mexico. In 2005, the largest source of energy consumption in Canada was oil (31 percent), followed by hydroelectricity (25 percent) and natural gas (24 percent). Both coal (12 percent) and nuclear (7 percent) constitute a smaller share of the country’s overall energy mix. From 1985-2005, Canada’s overall energy mix has remained relatively stable, though hydroelectricity has decreased from 31 percent to 25 percent.

Energy production and consumption

Oil Gas
Production: 3 million bbl/day (2005) 178 billion cu m (2005 est.)
Consumption: 2 million bbl/day (2005) 92 billion cu m (2005 est.)
Exports: 2 million bbl/day (2005) 101 billion cu m (2005 est.)
Imports: 1 million bbl/day (2005) 9 billion cu m (2005 est.)
Reserves: 178 billion bbl 1  trillion cu m (1 January 2006 est.)
Major fields:

Canada - recent news

27 Sep 20
Canada: Oil and gas industry recovery task force focuses on immediate actions
the Government of Newfoundland and Labrador has announced the establishment of an oil and gas industry recovery task force. This is in addition to ongoing discussions and work being undertaken to support the offshore oil and gas industry, including the recently announced exploration measures.
25 Sep 20
Canada: Provincial Government announces new offshore exploration initiative
The Government of Newfoundland and Labrador has announced the establishment of a new offshore exploration initiative to provide companies with the incentive to drill more wells in the best prospects.
23 Sep 20
Canada: PGS completes 2020 Canada acquisition and prepares first data
PGS completed the acquisition of three new GeoStreamer 3D surveys offshore Newfoundland and Labrador in September. First fast-track results will be delivered in Q4 2020 with final imaging and interpretation products delivered in 2021. The Blomidon, South Bank and Torngat Extension GeoStreamer 3D surveys together cover approx. 8,500 sq km.
04 Sep 20
Canada: i3 Energy announces completion of Gain acquisition and Harvard sale
i3 Energy has announced that, following the completion of the re-admission as set out in the announcement of 11th August 2020, the Company has now completed the acquisition of all the petroleum and infrastructure assets of Gain Energy for CAD$80 million (c.US$58.8 million).
23 Aug 20
Canada: Kelt completes the sale of its Inga Assets to ConocoPhillips
Kelt Exploration has completed its previously announced disposition of oil and gas assets in its Inga/Fireweed/Stoddart Division, located in British Columbia, to ConocoPhillips.

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