Industry Analysis & Industry Trends
The Oil Drilling and Gas Extraction industry has recently entered a boom, which has largely been encouraged by technological improvements that have enabled the development of Alberta's oil sands. Increased production over the past five years has led to consistent revenue growth, though a sharp decline is the world price of crude oil is expected to cause a contraction of revenue in 2015. Still, the size of Canada's proven oil reserves trails only Saudi Arabia and Venezuela, and continued production of the oil sands and offshore resources will spur overall growth through 2020, despite weakening prices in the short term. Additionally, improvements in the US economy, the industry's largest international market, are expected to boost export revenue in the next five years... purchase to read more
Industry Report - Industry Key Buyers Chapter
Market share concentration within the Oil Drilling and Gas Extraction industry in Canada is moderate, as the top four companies are expected to account for an estimated 26.8% of industry revenue in 2015. Of these, Suncor and Canada Natural Resources will generate the largest share of revenue, at a combined 19.2% of industry revenue in 2015.
Still, the industry consists of many large, multinational energy companies that operate on a global scale. The dispersion of the industry across Canada as well as the global-scale in which its companies compete on are representative of an industry with low market share concentration. These characteristics make it difficult for even major oil companies to control more than a small share of output... purchase to read more