Looking for Canadian oil companies? Want to know about all the different types of oil companies in Canada? Read our guide for more information on choosing the right company for you…
Canadian oil companies take advantage of the vast natural oil reserves on Canadian soil to drill for crude oil and gas. Among more than 60 oil companies in Canada is Connacher Oil and Gas Limited with its headquarters in Calgary, Alberta. It has 98,000 acres of oil sands leases in the Great Divide project close to Fort McMurray in Alberta. The company produces 3,300 barrels of oil per day and is also involved in the oil refining process.
Imperial Oil is considered the largest of the Canadian oil companies. ExxonMobil from USA controls the company, owning 69.6% of the company’s stocks. Imperial Oil is involved in exploring, producing and selling crude oil and gas. It operates many gas service stations under the trade name of ESSO. The company was incorporated in 1880 and currently has its headquarters in Calgary, Alberta.
Among the Canadian oil companies that are privately owned is Irving Oil Limited which was established in 1924 by Kenneth Irving, then aged 25. The company is owned by members of the Irving family. Its headquarters is located in Saint John in New Brunswick. Irving oil operates more than 760 gas stations throughout Quebec, New England and other areas of Canada such as Ontario and Atlantic Canada.
One of the largest integrated Canadian oil companies is Shell Canada Limited, which is a subsidiary of the Netherlands based company, Royal Dutch Shell. The company is heavily involved in exploring and producing natural gas, sulphur and oil. It also markets petrol or gasoline through 1,800 gas stations across Canada. The company operates three refineries, which collectively produce 333,000 barrels of oil per day.
Canadian Oil Reserves
In 2007, the oil reserves of Canada were estimated at 179 billion barrels. Unconventional oil sands reserves were included in this estimate which is thought to be second only to Saudi Arabia. More than 90% of the oil sands reserves are in the province of Alberta which also holds most of the conventional oil reserves. Hence numerous Canadian oil companies have their headquarters in Calgary, Alberta.
Imperial Oil and Irving Oil are among the more established Canadian oil companies, which have been in operation for decades. The Canadian oil reserves are concentrated in Alberta which is home to many oil companies.