Overview of Oil & Gas Markets

A Hot Tip about Sales in Canada

Last updated: 23 Feb 2011

MARKET OVERVIEW

• Canada is the world's third largest producer of natural gas and the seventh largest producer of crude oil
• Alberta’s oilsands are the second largest oil reserve in the world
• Canada exported $51B oil and gas products to the U.S. in 2009
• Canada imported $4B oil and gas products from U.S. in 2009
• The oil and gas industry accounts for $79B of the total revenue in Canada

OPPORTUNITIES ? PROGRAMS/PROJECTS

• Redwater Bitumen Refinery, a joint venture between Canadian Natural Resources and North WestUpgrading, is in the pre?approval phase. Approval is expected at the end of 2010, and construction can begin as early as spring 2011 ? $18B
• The Keystone Expansion Pipeline (Keystone XL) is a pipeline expansion by TransCanada Pipelines. It is thethird stage of the Keystone project, and it will bring crude oil from Alberta’s oilsands to the Gulf of Mexico. Construction is expected to begin in 2013 ? $12B
• The Christina Lake and Foster Creek expansion projects, both joint ventures between Cenovus andConocoPhillips, will expand oil production at their respective facilities. Foster Creek was approved in September 2010 ? $6B, and Christina Lake is expected to near completion in 2013 ? $3B

BEST PROSPECTS

• In the oil and gas industry, 54% of the field machinery market is controlled by U.S. imports
• Promising subsectors include specialty mining and extraction equipment for Alberta’s oilsands
• High demand for technologies that reduce water and natural gas usage
• Outstanding opportunities for providers of exploration, drilling, mining, refining, pipeline, environmental,and safety and security equipment and services
 

 

Read the full market research report 


Posted: 27 January 2011, last updated 23 February 2011

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