NEW!
To discover the POWER

of THE OX™ we’ve created this

short, interactive video highlighting

key features of THE OX Trading Platform™.


        Please click here to view.

 

 

Natural Gas
arrow Natural Gas Market Overview

Power
arrow Power Market Overview

Crude Oil
arrow Crude Oil Market Overview
arrow BI3 Definition
arrow OX Crude Oil Index Methodology

Market Information
arrow Interesting Facts








Interesting Facts

about the Crude Oil, Power and natural gas markets


Alberta

Oil, natural gas and petroleum products accounted for more than 67% of Alberta’s exports in 2009. Oil, natural gas and petroleum products accounted for 30.8% of Alberta’s provincial GDP in 2008. In 2008, petroleum industry payments to the province, which amounted to $11.9 billion, accounted for 33.2% of provincial government revenues.
Alberta Energy Markets Map
Source: Centre for Energy

British Columbia

Energy is produced in British Columbia from natural gas, crude oil, hydropower, biomass and coal. BC's energy industry contributes about 8.6 per cent of total government revenue through royalties, license fees and taxes, and accounts for about 3.9 per cent of BC's GDP. While most of the natural gas and virtually all of the coal produced in BC are exported, the province imports most of its petroleum products and, in some years, is a net importer of electricity. Approximately 24,500 people, about one per cent of BC's population, are employed in the oil and gas and utilities industries. In February 2007, British Columbia announced a new energy plan designed to make the province energy self-sufficient. The plan also precludes the use of nuclear power in the province to generate electricity. A progress report was issued in April 2009 that detailed the work that has been done to implement the energy plan.
BC Energy Markets Map
Source: Centre for Energy

Saskatchewan

Saskatchewan’s energy resources include crude oil, natural gas, coal, uranium, hydropower, wind and biomass. In 2008, Saskatchewan exported 80 per cent of its uranium production and was a net exporter of crude oil, natural gas and electricity. Coal mined in Saskatchewan is primarily used to generate electricity. Approximately 29,200 people were employed in Saskatchewan in the mining, oil and gas and utilities industries, about 5.6 per cent of the province’s employed labour force in 2009. Energy accounted for about 16.3 per cent of Saskatchewan’s gross domestic product in 2008. In 2008, the Saskatchewan government received more than $2.8 billion in royalties and land sales from oil and gas activities and the uranium industry.
Saskatchewan Energy Markets Map
Source: Centre for Energy

Ontario

Ontario’s energy resources include crude oil, natural gas, hydro power, nuclear power, wind, biomass and solar. The province uses these and coal to generate electricity. Ontario was a net exporter of refined crude products and electricity and a net importer of crude oil and coal in 2008. The energy industry in Ontario, primarily the utilities sector, accounted for about two percent of the province’s gross domestic product in 2008. In 2008, Ontario collected $2.7 billion in revenue from its energy industry, almost all of which came from electricity generation and transmission. The energy industry in Ontario employed more than 65,5000 people in 2008.
Ontario Energy Markets Map
Source: Centre for Energy

Quebec

Quebec’s greatest energy resource is its hydropower, which generated about 97 per cent of the province’s electricity in 2008. Other sources of electricity include nuclear power, wind and thermal generation. In 2009, Quebec exported 23 terawatt hours of electricity, worth about $1.5 billion. About 81 per cent of electricity exports went to the United States, the rest to Canada. Energy-related imports included crude oil, natural gas and petroleum products. Quebec is not involved in oil extraction; however, utilities accounted for about four per cent of its gross domestic product. Over the past few years, there has been active natural gas exploration and development, but there is no commercial production at present. The government of Quebec received more than $2.17 billion in dividends from Hydro-Québec in 2009.
Quebec Energy Markets Map
Source: Centre for Energy

Mackenzie Valley Pipeline Project

The proposed pipeline will run 1,220-kilometre from Inuvik, N.W.T., through the territory's Mackenzie Valley to northern Alberta, where it is planned to connect with southern markets.

Partners in the pipeline consortium include Imperial Oil, Royal Dutch Shell Plc., ConocoPhillips, Exxon Mobil Corp. and Aboriginal Pipeline Group. The project was first proposed in the early 1970s, but was scrapped and was proposed again in 2004 this time suggesting gas get transported through the sensitive arctic tundra. Estimates of hydrocarbons in the Mackenzie Delta and Beaufort Sea regions project that there are natural gas reserves of 1.9 trillion cubic metres.

Some people feel the Mackenzie Valley Pipeline will be a competitor with the Alaskan Natural Gas Pipeline, but the two projects actually access different natural gas fields. The Alaska pipeline will access Alaska's North Slope, while the Mackenzie Gas Project will access Canadian Arctic gas from the Beaufort Sea and Mackenzie Delta. The Mackenzie Gas Project will also allow other gas wells in the NWT mainland to tap into the pipeline that runs through the NWT. These fields would otherwise be stranded. Theories suggest that natural gas demand willI grow in the future as both Canada and U.S. shifting their policies to support cleaner fuel sources and reduce reliance on oil imported from overseas. These theories suggest that both the Mackenzie Gas Project and the Alaska Gas Pipeline will be required in order to meet continental energy demands.

Mackenzie Valley Pipeline Project Map

Shale Gas

Shale gas formations in North America hold trillions of cubic feet of natural gas. The U.S. has enough reserves of clean natural gas to power our homes and even our vehicles for years to come. The shale basins shown above will be a major source of that natural gas. According to the A.A.P.G. shale gas will account for more than 51% of our gas supply this decade.
Source: EIA

The consulting firm ICF forecasts that tight gas, coalbed methane, and shale gas will make a major contribution to future North American gas production. Unconventional gas production is forecast to increase from 42 percent of total US gas production in 2007 to 64 percent in 2020. Despite the current economic conditions, the long-term need for US natural gas should be strong enough to support these anticipated future production levels.
Source: Energy API

In its April 2009 report, "Modern Shale Gas Development in the United States: A Primer," the US Department of Energy stated that at the US natural gas production rates for 2007 of about 19.3 Tcf, the current recoverable resource estimate provides enough natural gas to supply the US for the next 90 years. Separate estimates of the shale gas resource extend this supply to 116 years. Production of shale gas is expected to increase from a 2007 US total of 1.4 Tcf to 4.8 Tcf in 2020. The DOE report states that shale gas production potential of 3 to 4 Tcf per year may be sustainable for decades. The INGAA report stated that to achieve the forecast results, industry must have land access for drilling, a reasonable permitting process and adequate prices and demand for natural gas.
Source: Energy API

North American Shale Gas Formations Map
Shale Gas Map

Canadian Crude Oil Facts

   dotApproximately 2.7 million barrels of crude oil and equivalent per day travel through Canada’s crude oil
   dotpipeline network. Source: www.cepa.com

   dotAccording to the Oil and Gas Journal (OGJ), Canada had 178 billion barrels of proven oil reserves as of
   dotJanuary 2009, second only to Saudi Arabia. The bulk of these reserves (over 95 percent) are oil sands
   dotdeposits in Alberta.

   dotCanada sends over 99 percent of its oil exports to the U.S., and it is consistently the top source of U.S.
   dotoil imports. Source: www.eia.doe.gov

   dotIn 2008, oil sands production represented approximately half of Canada’s total crude oil production.
   dotSource: www.eia.doe.gov

   dotIn 2008, Canada exported 2.5 million bbl/d of crude oil and refined products to the US, the single largest
   dotsource of US oil imports and representing almost all of Canada’s total oil exports. This is expected to grow
   dotby as much as 1.8 million bbbl/d

   dotForecasts of world oil markets estimate that Canadian oil sands will become an increasingly important
   dotcomponent of world oil supply.

Forecasts of world oil markets estimate that Canadian oil sands will become an increasingly important component of world oil supply.

Top Oil Producers

Top Petroleum Imports