In November, production of primary energy increased 4.6 per cent to 2.0 million terajoules, with gains in most subsectors, notably natural gas (+5.3 per cent) and crude oil (+3.0 per cent), compared with November 2021, reported Statistics Canada on Wednesday.
Statistics Canada
Following a 0.9 per cent decrease in October 2022, production of secondary energy products declined 1.2 per cent year over year in November. The decrease was largely due to the refined petroleum products sector (-0.9 per cent), said the federal agency.
“Meanwhile, exports of Canadian energy products fell year over year for the first time since December 2021. Exports of primary energy decreased 1.6 per cent to 1.1 million terajoules compared with November 2021. Lower exports of crude oil (-2.0 per cent) accounted for most of the drop, while natural gas partially offset the decline with a 0.7 per cent gain,” it said.
“Production of crude oil and equivalent products rose 3.1 per cent to 24.5 million cubic metres in November. This was the fifth consecutive monthly year-over-year increase, largely driven by higher extraction of light, medium and heavy crude oil.
“Oil extraction was up 5.7 per cent to 6.0 million cubic metres at the national level in November. Alberta and Newfoundland and Labrador primarily contributed to the increase, as light and medium crude production rose 5.1 per cent to 4.0 million cubic metres following two consecutive monthly year-over-year declines. Production of heavy crude continued to increase at the national level, up 6.8 per cent to 2.1 million cubic metres.”
(Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He worked for 35 years at the Calgary Herald, covering sports, crime, politics, health, faith, city and breaking news, and business. He works as well as a freelance writer for several national publications and as a consultant in communications and media relations/training. Mario was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list)
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