The energy industry is the largest contributor to Alberta’s GDP, capital investments and exports, making it the province’s key engine of growth.
Alberta has the third largest crude oil reserves in the world and is home to 98% of Canada’s total oil reserves, and in 2014, Alberta produced approximately 78% of Canada’s crude oil and 67% of its natural gas.
Edmonton is the closest major centre to Alberta’s Oil Sands, making it a strategic base for many industries that support the oil and gas sector such as manufacturing, construction, and engineering. In addition, two of Alberta’s four refineries are located in the Edmonton Metropolitan Region:
- The Strathcona Imperial Oil Refinery produces ultra-low sulphur diesel at a capacity of 187,200 barrels of crude oil per day.
- Suncor’s Edmonton Refinery produces a high yield of light oils from oil sands-based feedstocks at a capacity of 142,000 barrels per day
(Canadian Centre for Energy Information, 2014)
The oil and gas industry is always evolving and innovating. The University of Alberta, located in Edmonton, is a main source for technical innovation in the industry in areas such as emission reduction, water treatment, and land reclamation, along with new extraction techniques.
Key players in the Edmonton oil and gas sector include Suncor Energy Inc., Imperial Oil Ltd., Husky Energy Inc., Cenovus Energy Inc., and Canadian Natural Resources Ltd.