If the first places that come to your mind when you think oil are the United States and the Middle East, think again. The world’s first integrated oil company was actually established in Canada! Since then, oil production in Ontario has been expanding steadily, and currently, we are the 7th largest crude oil producer in the world.
It’s safe to say that Canada is coming in strong when it comes to crude oil production and refineries, and remains an important player in the arena. And it’s easy to see why.
Proximity to the United States
One of the major reasons behind Canada’s growing oil industry is its proximity to the United States. This is because most of our petroleum products end up in the country.
But it doesn’t stop there; we’re also rapidly building infrastructure and natural gas supplies that reach European and Asian markets. These markets prefer Canada over the USA.
Coast to Coast Rail Lines
Canada’s gas and oil production remains linked to markets within and without the country. With a total of 19 refineries that have the capacity to refine over two million barrels in a day, Canada maintains its stronghold in the industry, thanks to its coast to coast rail lines.
There’s Incentive Involved
And it’s not just within Canada that people are interested. Foreign investors have seen the viable outlook promised by Flow-Through Shares—expenses for development and exploration are transferred to investors.
More and more people have shown willingness in funding pipeline operations and other such activities in Canada thanks to FTS.
The Kinds of Oil and Gas Produced in Canada
There is no dearth of natural resources that we dig up here. From natural gas to shale gas and coal bed methane, Canada’s recoverable gas resources are made accessible through hydraulic fracturing and horizontal drilling.
In addition to crude oil, we also have oil sands and tight oil which, like gas, can be accessed through hydraulic fracturing and horizontal drilling.
Oilfield Instruments in Canada
It’s pretty evident that the oil and gas industry in Canada is set to prosper in the coming years, and this means that the demand for quality oilfield instruments will likewise increase.