Canada’s energy industry makes up about 27% of the country’s GDP and most Canadians know the importance oil plays in the economy. Whether you’re part of the industry or just want to know more about the role that oil and gas plays, here are 5 great infographics on the oil and gas industry in Canada.
Canada produces only 3.90% of the world’s oil, but don’t let this figure fool you. Canada is the world’s 6th largest oil producing country, outputting almost 3.6 million barrels per day.
However, Canada wasn’t always a top oil producer. It was only after 2003 when parts of the Canadian oil sands became economically feasible for extraction. Within Canada, most of the oil production is in the Prairies, with Alberta and Saskatchewan producing a combined 84.9% of the Canadian total.
The size and importance of the Canadian oil sands shouldn’t be underestimated. The area takes up 140,000 sq km in Alberta, which is almost the size of the entire state of Florida, and out of Canada’s 173 billion barrels of oil reserves, about 98% of reserves are from oil sands.
There’s a lot of oil being produced in Alberta, but the oil still needs to be refined before it can be used. The Keystone XL pipeline is a major project proposed by TransCanada to deliver oil to the US where there is excess capacity to process oil.
Although oil prices have fluctuated recently, the demand and production of oil is still expected to grow in the long term. The oil and gas industry in Canada directly and indirectly employs 500,000 people, and this is expected to reach 905,000 people in 2035. Some of the most in-demand occupations in oil and gas are field workers, operators, supervisors and engineers, among other roles.
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