Boston, MA -- (SBWIRE) -- 08/12/2014 -- The outlook for Canada's oil and gas industry is still a positive one, though its upstream potential needs more support from the community and the government for infrastructure development. Indeed, challenging project economics could slow the growth of oil-sands driven production, weighing on total hydrocarbon output. That said, while this acts as a significant downside risk, we also note risks to the upside as well, with potential for exploration in the country's offshore acreage and unconventional resources to unearth more oil and gas reserves to support the country's long-term growth prospects.

The main trends and developments we highlight for Canada's oil and gas sector are:

- The abundance of gas production provides Canada with considerable export potential, with a number of LNG export terminals having been approved by the National Energy Board thus far.

- However, Canada's oil and gas infrastructure face bottlenecks that need to be addressed to move oil and gas more effectively across the country. The approval of TransCanada's Energy East pipeline would increase the flow of western Canadian crude to the Eastern refining centres, though we note that the potential for local opposition remains high. We are also seeing a trend of crude-by-rail shipments to circumvent the limitations in pipeline capacity. However, a recent move to increase regulation after a series of derailments and explosions may modestly slow the growth of this type of transportation. Ultimately, the lack of sufficient midstream infrastructure is putting downward pressure on WCS prices, and presents risks to production in the form of less favourable project economics.

- Canada's proven oil reserves are expected to trend modestly lower from 173.2bn bbl at the beginning of 2014 to 168.3bn bbl in 2018 due to a slowdown in oil sands investment. However, thereafter we expect reserves to hold around this level thanks to additions from liquids-rich shale developments,...

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The Canada Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Canada including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Canada Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Canadian oil and gas industry.

Key Benefits:

- Benchmark BMI's independent oil and gas industry forecasts for Canada to test consensus views - a key input for successful budgeting and strategic business planning in the Canadian oil and gas market.

- Target business opportunities and risks in the Canadian oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Canada.

- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage:

BMI Industry View:

Summary of BMI's key forecasts and industry analysis, covering oil and gas reserves, supply, demand and refining, plus analysis of landmark company developments and key changes in the regulatory environment.

Regional Overview:

Regional perspective on size and value of industry sector; comparative rankings by production, refining, imports and exports of oil, gas and LNG.

Business Environment Rankings:

BMI's Oil and Gas Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (independents, NOCs, IOCs and oil services companies) in the upstream and downstream markets.

The rankings methodology makes sophisticated use of more than 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.

Oil Market Outlook and Oil Products Outlook:

Based on our country coverage of over 99% of global oil and gas production and consumption, BMI provides demand, supply and price forecasts to end-2018 for oil, gas and oil products

BMI Industry Forecasts:

Historic data series and forecasts to end-2018 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:

Pricing: Oil price (US$/bbl, WTI, Brent, OPEC basket, Urals); Oil products prices (unleaded gasoline, gasoil/diesel, jet/kerosene - US$/bbl) at global hubs

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