Energy is the most valuable resource of a country and it depends upon the natural reserves of resources like oil and gas. To a great extent, the abundance of these resources is a determinant of the economic development of a country. Canada is considerably rich country, when it comes to oil and natural gas, with many companies engaged in extraction and refining of these resources.
Listed below are the top 10 oil and gas companies in Canada:
Suncor Energy merged with Petro Canada in 2009 to become the biggest oil and gas company in the country. The company boasts of revenue of $ 30 billion and market capitalization of nearly $ 50 billion, along with a oil production of 680,000 barrels a day. It will soon be placed among the top 15 oil and gas companies in the world.
2.Canadian Natural Resources
Ranking on number two in the list is the oil and gas company called Canadian Natural Resources, which operates in Western Canada, the North Sea and West Africa. Oil accounts for 90% of the sale of the products by this company, which has grossed up a revenue exceeding 14 billion dollars in 2011.
Imperial Oil Limited is one of the biggest oil companies in Canada, which is among the leading producers of oil and natural gas, besides being a major petroleum refiner of the country. The company holds nearly 25% stake in Syncrude, one of the leading oil sands operations around the world. The company has its headquarters in Calgary, Alberta, besides corporate offices in Toronto and Montreal.
Starting off as a pipe line company, Enbridge today has become a leading oil and gas company in Canada, after acquisition of several smaller ones in the nineties. Today, it owns the longest oil pipeline system in the world in addition to being the largest natural gas supplier in Canada, catering to nearly 1.9 million consumers.
The next name on the list of top 10 oil and gas companies in Canada is that of Calgary, Alberta based TransCanada, which provides pipeline support and natural gas storage. Founded in 1951, it has nearly 4800 employees working for it.
Husky Energy Company was first established in 1938 in Wyoming and a part of it was moved to Canada in 1946. It became really big in 1988, with the acquisition of the Centerra Ltd. Today, it is amongst the leading oil and gas companies in the country, with revenue of nearly 18 billion dollars in 2011.
With revenue of nearly 13 billion dollars in 2011, Cenovus Energy is the next name on this list. It was earlier a part of Encana, but now is operating on its own behalf. The company has a 50% ownership in two leading refineries in the US, which are looked after by ConocoPhilips. These are a great addition to the assets of this company.
With a revenue of nearly 9 billion dollars in 2011, Encana Corporation features next in the list of top oil and gas companies in Canada. It was formed in 2002 as a result of a merger between Alberta Energy Company and Pan Canadian Energy. The company operates from locations in Alberta, British Columbia, Nova Scotia, Wyoming, Colorado, Texas and Louisiana.
Another leading oil and gas company in Canada is Talisman Energy, which was originally known as BP Canada, the company operates in a large number of international locations including Canada, USA, Columbia, UK, Indonesia, Norway, Scotland, Malaysia, Australia, Peru, Algeria and Qatar.
10.Crescent Point Energy
This Calgary, Alberta based oil and gas company is basically engaged in production of crude oil in South Saskatchewan. The average daily production is about 112000 barrels a day in 2011.
All these companies are the key players in the oil and natural gas sector of the Canadian economy.