The Canadian Industrial Outlook sets the stage for the Canadian economy by examining 10 key industries. Revenues and costs are projected to analyze the profitability of each industry through to 2008.
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Canada’s Oil and Gas Industry forecasts revenue, costs and profits for the oil and gas industry by analyzing its five key sectors: light crude, light offshore crude, heavy crude, non-conventional crude and natural gas.
After reaching a record high in 2004, overall profits in the oil and gas industry will drop to $15.2 billion in 2005, then continue to decline over the new few years. Falling prices for oil products and declining production of natural gas will be the two biggest reasons for the drop. Also, the changing mix in oil production, with heavy oil and blended bitumen accounting for an increasing share, will also detract from revenue growth, since these products garner lower prices.
The outlook includes a special feature on non-conventional producers, who are particularly vulnerable to oil price fluctuations in part because of the high cost of mining and processing bitumen from the oilsands.
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