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Energy

Crude oil and natural gas: Supply and disposition for February 2015

Ottawa - Canada produced 18.1 million cubic metres of crude oil and equivalent products in February, up 9.5% compared with the same month in 2014.

Crude bitumen and synthetic crude oil production increases

Crude bitumen production increased 22.7% from the same month a year earlier to 6.0 million cubic metres in February, while synthetic crude oil production was up 11.0% to 5.0 million cubic metres. Conversely, production of heavy crude oil (-4.1%) and light and medium crude oil (-2.7%) were down.
Exports increase while imports decline

Exports of crude oil and equivalent products increased 6.8% from the same month a year earlier to 13.5 million cubic metres in February, while imports of crude oil and equivalent products to refineries fell 14.0% to 2.5 million cubic metres.

Inventories rise

Inventories of crude oil and equivalent products were up 1.5% from the same month a year earlier to 19.1 million cubic metres in February. Closing inventories from transporters (pipeline companies) increased 1.4% to 16.4 million cubic metres, while closing inventories from fields and plants rose 1.7% to 2.7 million cubic metres.

Marketable natural gas declines

Canadian natural gas utilities received 12.7 billion cubic metres of total marketable gas in February, down 3.9% from the same month in 2014.

Canada's exports of natural gas by pipelines to the United States increased 1.1% to 7.1 billion cubic metres, while imports of natural gas decreased 3.8% to 2.4 billion cubic metres.

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