Industry Analysis & Industry Trends
This industry has expanded on average during the past five years, but revenue exhibited high volatility. During the recession, global demand for crude oil and petroleum products plummeted, and prices quickly followed suite. As a result, revenue contracted significantly. The industry has grown since then, albeit slowly because of pipeline shortages in North America. Growth over the next five years is contingent on the successful completion of export pipelines. As exports rise, domestic prices will converge to higher international prices. Rising prices and steady consumption growth are forecast to drive up both the industry's revenue and profit... purchase to read more
Industry Report - Industry Locations Chapter
Industry establishments are distributed according the location of crude oil production, oil refineries and downstream customers. Alberta and Ontario are the two most concentrated provinces, and account for 23.8% and 23.6% of establishments, respectively. Alberta is the primary crude oil producing region in Canada; therefore, operators benefit from lower transportation costs by locating near crude oil extraction sites. Similarly, Sarnia, ON, is a major refining hub, with several major players in the Petroleum Refining industry (IBISWorld report 32411CA) located in the region.
Quebec and British Columbia are two other concentrated provinces, containing 16.1% and 11.2% of establishments, respectively... purchase to read more