South America / GoM

Canada flag
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

30 May 23
Canada: TotalEnergies to sell its 50% stake in Surmont oil sands asset to ConocoPhillips following exercise of its preemption right
In connection with the sale by TotalEnergies to Suncor Energy of the entirety of the shares of TotalEnergies EP Canada announced on April 27, 2023, ConocoPhillips has notified on May 26, 2023 TotalEnergies that it is exercising its preemption right to purchase the 50% interest in the Surmont asset held by TotalEnergies EP Canada.
30 May 23
Canada: ConocoPhillips to purchase remaining 50% interest in Surmont from TotalEnergies
ConocoPhillips is exercising its preemption right to purchase the remaining 50% interest in Surmont from TotalEnergies EP Canada for approx. $3 billion (CAD$4 billion), subject to customary adjustments, as well as contingent payments of up to approx. $325 million (CAD$440 million). ConocoPhillips currently holds a 50% interest as operator of Surmont and will own 100% upon closing.
13 May 23
Canada: Crescent Point closes strategic Montney acquisition
Crescent Point Energy has successfully closed its previously announced strategic and accretive acquisition of oil and liquids-rich Montney assets in Alberta for $1.7 billion in cash.
27 Apr 23
Canada: TotalEnergies accepts an offer from Suncor for its oil sands assets
Suncor Energy has agreed to purchase TotalEnergies’ Canadian operations through the acquisition of TotalEnergies EP Canada, which holds a 31.23% working interest in the Fort Hills oil sands mining project (Fort Hills) and a 50% working interest in the Surmont in situ asset.
18 Apr 23
Canada: The C-NLOPB announces Calls for Bids (Cumulative Parcels) in the Eastern Newfoundland and South Eastern Newfoundland Regions for 2023
The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has issued Calls for Bids for Exploration Licences in the Eastern Newfoundland and South Eastern Newfoundland Regions.

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