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Crude oil and natural gas: Supply and disposition

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The Daily

Wednesday, February 27, 2008
Annual and December 2007 (preliminary)

Canadian companies produced a record 160.5 million cubic metres of crude oil and equivalent hydrocarbons in 2007, a 4.2% increase from 2006. (One cubic metre is equivalent to 6.3 barrels).

The increase was led by a 21.3% jump in offshore production in Newfoundland and Labrador, and by a jump in output of bitumen in Alberta.

In Alberta, companies produced 8.0% more crude bitumen in 2007, while synthetic crude production rose 3.7%.

Offshore production in Newfoundland and Labrador accounted for well over half (58%) of the annual increase between 2006 and 2007. This was due to a combination of the Terra Nova oil field's return to production, and additional output from the White Rose oilfield.

In terms of total production of crude and equivalent hydrocarbons, Newfoundland and Labrador's share rose from 11.4% in 2006 to 13.3% in 2007.

Exports, which accounted for nearly two-thirds (65.9%) of total domestic production in 2007, increased 3.0% over 2006. Increased exports to the United States accounted for the majority of the change, although exports to other countries increased by more than three times their 2006 values.

Crude imports last year edged up 0.3% from 2006. Just under half (48.4%) of imports came from the Organization of Petroleum Exporting Countries, including Algeria, 20.7%; Saudi Arabia, 8.7%; and Iraq, 7.4%.

North Sea countries made up 38.6% of imports: Norway, 22.4% and United Kingdom, 16.2%.

Annual marketable natural gas production declined 2.2% from 2006. Exports of natural gas to the United States, which comprised 65.0% of marketable gas, increased 6.9% over 2006.

Natural gas sales amounted to 73.0 billion cubic metres in 2007, up 5.2% from 2006. All three major sectors contributed to the gain: residential sales were up 7.3%, commercial sales up 5.5% and industrial sales up 3.9%.

Canadian companies produced 12.9 million cubic meters of crude oil and equivalent hydrocarbons in December 2007, down 7.6% from December 2006.

In December, exports of crude oil and equivalent hydrocarbons declined 8.7% compared with December 2006 to 8.5 million cubic meters. Nearly two-thirds (65.9%) of Canada's total production in December 2007 went to the export market.

Domestic sales of natural gas reached 8.8 billion cubic metres, a 17.5% increase from December 2006.

Marketable natural gas production declined 0.2% from December 2006. Natural gas exports, which made up 69.9% of marketable natural gas, increased 13.4%.

Note: Preliminary data are available on CANSIM at the national level to December 2007 inclusive. At the national and provincial level detailed information is available for crude oil (126-0001) up to October 2007 inclusive, and for natural gas (131-0001) up to March 2007 inclusive.

Available on CANSIM: tables 126-0001 and 131-0001.

Definitions, data sources and methods: survey number 2198.

For more information, or to enquire about the concepts, methods or data quality of this release, contact the dissemination officer (toll-free 1-866-873-8789; 613-951-9497;, Manufacturing, Construction and Energy Division.

Tables. Table(s).