CER evaluation exhibits US continues to be Canada’s principal provider of oil as imports plummet in 2020
CALGARY, Alta., April 14, 2021 (GLOBE NEWSWIRE) – The USA provided almost 4 out of 5 barrels of oil imported to Canada in 2020, whereas crude imports fell 20% attributable to decrease oil costs. demand through the COVID-19 pandemic, based on the most recent evaluation from the Canadian Power Regulator (CER).
Crude oil imports declined to 555,000 barrels per day (b / d) from 693,000 b / d in 2019, 77% of complete crude imports from the USA in 2020, up from 72% in 2019. On the remaining imports of crude from the USA in 2020. of crude imports, 13 % got here from Saudi Arabia, 4 % from Nigeria, 3 % from Norway and the remainder from a number of different nations.
Though Canada exports almost 6.5 occasions extra oil than it imports, it nonetheless is determined by imported oil to produce refineries within the Atlantic provinces, Quebec and Ontario. Lower than a 3rd of Canadian crude oil is processed by Canadian refineries for quite a lot of causes, resembling lack of pipeline entry to home provides, the particular product wants of refineries, or as a result of it prices much less to import.
Most of Canada’s petroleum imports are transported by tanker and pipeline, with small volumes imported by rail.
The CER produces a impartial and evidence-based vitality evaluation to tell the vitality dialog in Canada. Market snapshots are a part of a portfolio of publications on vitality provide, demand and infrastructure that the CER publishes often as a part of its everlasting market watch.
- The entire price of imported oil fell 40% from a yr in the past to $ 11.5 billion, reflecting decrease volumes and decrease world crude costs.
- Imports to Newfoundland and Labrador elevated from 106 Mb / d to 29 Mb / d in 2020, and all originated from the USA, whereas prices declined to $ 77.87 per barrel.
- Imports to New Brunswick declined in 2020 from 278 Mb / d to 245 Mb / d, half of which got here from the USA whereas prices decreased to $ 58.89 per barrel.
- Imports into Quebec went from 203 mb / d to 153 mb / d in 2020, and all got here from the USA whereas prices fell to $ 52.92 per barrel.
- Imports into Ontario elevated from 97 Mb / d to 43 Mb / d, and all got here from the USA in 2020. Prices have fallen to $ 53.37 per barrel.
“The supply of Canada’s crude oil imports has modified dramatically over the previous decade. The USA has grown from a small participant in 2010 to a significant provider at present, with nearly all of oil imported into Canada coming from our neighbor to the south.
Canada’s vitality regulator
The Canadian Power Regulator (CER) ensures that vitality flows safely throughout the nation. We assessment vitality growth tasks and share vitality info, whereas upholding a few of the strictest security and environmental requirements on the earth. To learn how the CER works for you go to us on-line or join on social networks
Canada’s vitality regulator
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