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Why Canada’s Flourishing Oil and Gas Industry Excites Investors.

Why Canada’s Flourishing Oil and Gas Industry Excites Investors.

Canada is uniquely blessed with oil and natural gas resources. The Western Canada Sedimentary Basin (WCSB) is the largest source of oil and gas in Canada. The area covers Northern British Columbia, most of Alberta, Southern Saskatchewan, and the Southwestern tip of Manitoba.

In 2015, the International Energy Industryranked Canada as:

  • 3rd in crude oil reserves after Saudi Arabia and Venezuela. The country also has 171 billion barrels of oil reserves, or 10% of the world’s total crude oil reserves
  • 5th in the world in crude oil production. Canada currently produces 4.4 million barrels of oil per day
  • 18th in natural gas reserves
  • 6th in natural gas production, after the United States, Russia, Iran and, Qatar
  • responsible for approximately 2% of the global crude oil distillation refining capacity

The economic benefits of Canada’s oil and gas industry are immense to the people and government of Canada. Investment in the oil sector helps Canada supports over 660,000 jobs across the country. Taxes and royalties help pay for important government services such as education, healthcare and infrastructure that benefit everyone living in Canada.

Following the downturn caused by falling oil prices in 2015 and the pandemic in 2020, experts in the Canadian oil industry predict that 2021 will be the year of recovery for the oil sector in Canada. According to a report by oilprice.com, total investments in Canada’s oil sector are expected to increase by 12 percent this year compared to last year.

The combined investment in oil sand operations and conventional oil and gas production is expected to reach 21 billion CAD against 24 billion CAD in 2020.

Investors can further expand their portfolios in the Canadian oil and gas sector via the 2021 FDI Canada Forum. This 2-day event starting from May 5 – 6 this year, will connect stakeholders in the oil sector and investors; open new doors of business growth and innovation that brings about economic competitiveness.

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