Research and Markets: Canada Oil and Gas Report Q1 2012

DUBLIN--(BUSINESS WIRE)--

Research and Markets (http://www.researchandmarkets.com/research/4536de/canada_oil_and_gas) has announced the addition of the "Canada Oil and Gas Report Q1 2012" report to their offering.

BMI View: Oil sands-based liquids supply and shale gas production form the foundation of Canada's energy supply outlook. Conventional sources of crude oil and natural gas output are in decline, with little immediate prospect of a reversal in this trend. The overall picture is therefore complex but encouraging, as long-term volumes of oil and gas protect Canada's position as a key supplier to the US.

There is likely to be a threefold increase in gas power generation over the next decade, according to the Canadian Energy Research Institute. Much of the gas use in power applications is the result of rising energy use at the oil sands facilities. The greater use of gas in power generation projects points to Canada's consumption rising from an estimated 92.1bn cubic metres (bcm) in 2011 to 105.8bcm by 2016 - when gas production is likely to be around 153.0bcm, including shale/coal bed methane (CBM) volumes.

At time of writing, we assume an OPEC basket oil price for 2011 of US$101.90 per barrel (bbl), falling to US$99.40/bbl in 2012. Global GDP in 2011 is forecast at 3.2%, down from 4.3% in 2010, reflecting slowing growth in China, a faltering recovery in the US and a worsening eurozone debt crisis. For 2012, growth is put at 3.6%.

Business Monitor International's Canada Oil and Gas Report provides industry professionals and strategists, corporate analysts, oil and gas associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Canada's oil and gas industry.

Companies Mentioned:

• Suncor Shell Canada
• Encana
• Cenovus Energy
• Canadian Natural Resources
• ConocoPhillips
• Chevron
• Devon Energy
• Syncrude
• BP Canada
• Husky Energy
• ExxonMobil
• Statoil
• Total
• Murphy Oil
• Enbridge
• Nexen
• Occidental Petroleum
• TransCanada
• UTS Energy
• Gazprom
• Ultramar
• TAQA
• Apache
• Penn West
• Talisman Energy
• PetroChina
• Korea National Oil Corporation (KNOC)

For more information visit http://www.researchandmarkets.com/research/4536de/canada_oil_and_gas