One of the five largest energy producing countries in the world along with China, the USA, as well as Saudi Arabia and Russia is Canada. Minerals and industry are the main force of the country's economy.
Oil production in Canada
Canada has been a rising star in the ranking of global oil producers and exporters for many years. All minerals, oil, gas and others constitute the main strength of the Canadian economy and its wealth. Recently, there has been an increase in oil production in this country from the sands. By the way, Canada is not only rich in these products. Here you can find the most diverse minerals: these are non-ferrous metals, iron, ore, precious metals, coal, various salts and much more, which is the real property of the country.
The oil reserves in Canada are about 180 billion barrels owned by the state. Among all countries with oil reserves, Canada holds an honorable third place. Oil production in Canada in general is in second place in the world (Saudi Arabia holds the championship). True, not everything is so simple, because most of the black gold is buried in the oil sands. These minerals of Canada (oil, in particular) are developed using very expensive and environmentally hazardous technologies with low profitability.
Canadian oil sector
Nevertheless, oil production and consumption in the country are steadily growing. With the advent of new technologies, mining has become much easier and also more profitable from an economic point of view.
Oil companies went through strategic restructuring and consolidation, all of them privatized. Canada’s oil production sources are three pillars: resources located in the Western sedimentary basin, offshore minerals in the Atlantic Ocean and oil sands, which are leaders in this three.
In the future, the development of VT mining will play an important role on the eastern coastal provinces of Canada. The mature oil fields of Newfoundland and Labrador - the offshore shelf of the East - promise to bring oil production to the first place in the country in the future.
Canadian Oil Exports
The owner of huge reserves, Canada, exports minerals mainly to the United States. Almost 97 percent of liquid fuel exports go there annually.
Since the beginning of the new millennium, Canada has been the largest exporter of oil to the United States, occupying a third of this market segment. In addition, Canada entered the Chinese market. Moreover, since 2010, China has doubled the need for oil imports. At present, Canada, compared to other countries, supplies these resources to the Celestial Empire much more and takes pride of place in the ten most powerful oil exporters in the world.
CNOOC has become the pioneer operator of the industrial large-scale oil sands development plan. Large companies involved in the extraction of black gold are a springboard for the development of new technologies. Chinese companies invest heavily in the development of oil sands and in the development of other areas of energy.
Canada Piping Systems
Oil production centers are interconnected by a pipeline system. Refineries and export centers in the eastern provinces are connected to the West and the United States by the largest pipeline system into a single network. In total, the CPC (Canadian Pipeline Companies) Association transports oil at 3 million barrels every day. And from Western Canada two and a half million barrels of oil are exported daily to Montana.
Only one pipeline network supplies crude oil. Her journey begins in Edmonton, then resources go through processing and distribution points in Vancouver along the final route to Illinois. Companies that are operators of the export pipeline network constantly have projects for new ways of supplying resources. After these plans are put into operation, the speed and volume of oil transfer from Alberta to the coast of Mexico will increase even more. In addition to black gold, Canada has other minerals.
Gas production in canada
In terms of gas production, the maple leaf country is in fifth place among countries around the world. After Norway, Russia and Qatar, Canada occupies the fourth position in the export of this product. Minerals are mined in the Western Canada Basin and on the East Coast shelves, around Newfoundland, as well as in Nova Scotia and the Arctic. Wide deposits of shale gas, methane, coal seams, gas tight reservoirs and other types of unconventional gases were discovered in Canada. Despite this, they are not yet extensively developed, unlike the United States. Five sedimentary basins rich in deposits of this resource are located in Canada. Three more potential shale plays are located in Quebec, Manitoba and Nova Scotia. However, in these communities, exploration is subject to regulatory restrictions.
According to the National Energy Authority of Canada, two-thirds of Canada’s gas was produced in Alberta , with the remaining third coming from British Columbia.
Canada Gas Exports
Like other minerals, Canada sends oil and almost all gas to the United States. The main part of the resource is exported through a gas pipeline.