Petroleum production in Canada

Petroleum in Canada
This article is part of a series.
1. Early history 2. Story of natural gas 3. Oil sands and heavy oil 4. The frontiers 5. Gas liquids
Resources and producers
Oil reserves Petroleum companies
Categories
Oil fields Oil refineries Oil companies
Economy of Canada Energy policy of Canada

Petroleum production in Canada is a major industry which is important to the economy of North America. Canada has the third largest oil reserves in the world and is the world's fifth largest oil producer and fourth largest oil exporter. In 2015 it produced an average of 621,610 cubic metres per day (3.9 Mbbl/d) of crude oil and equivalent. Of that amount, 61% was upgraded and non-upgraded bitumen from oil sands, and the remainder light crude oil, heavy crude oil and natural-gas condensate. Most of Canadian petroleum production is exported, approximately 482,525 cubic metres per day (3 Mbbl/d) in 2015, with almost all of the exports going to the United States. Canada is by far the largest single source of oil imports to the United States, providing 43% of US crude oil imports in 2015.

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). In 2005, almost 25,000 new oil wells were spudded (drilled) in Canada. Daily, over 100 new wells are spudded in the province of Alberta alone. Although Canada is one of the largest oil producers and exporters in the world, it also imports significant amounts of oil into its eastern provinces since its oil pipelines do not extend all the way across the country and many of its oil refineries cannot handle the types of oil its oil fields produce. In 2014 it imported 86,400 cubic metres per day (0.5 Mbbl/d) into its eastern provinces while simultaneously exporting 453,700 cubic metres per day (2.9 Mbbl/d) from its western provinces and east coast offshore oil fields (http://www.capp.ca)..

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