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Did not import crude oil
- Imports of crude oil from Nigeria increased by nearly 40 000 b/d in 2021, reflecting the largest year-over-year change of imports from any country. Canada did not import crude oil from the Russian Federation in 2020 or 2021.
www.cer-rec.gc.ca/en/data-analysis/energy-markets/market-snapshots/2022/market-snapshot-crude-oil-imports-declined-in-2021-while-refined-petroleum-product-imports-rose-modestly.htmlMarket Snapshot: Crude oil imports declined in 2021, while ...
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What happened to crude oil imports in Canada in 2021?
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Mar 30, 2022 · Canada did not import crude oil from the Russian Federation in 2020 or 2021. Over the past decade, imports of crude oil from the Russian Federation have been relatively low, reaching a ten-year high of about 18 000 b/d in 2019.
Feb 28, 2022 · Canadian Prime Minister Justin Trudeau has announced a ban on Russian oil imports following the country's invasion of Ukraine. Mr Trudeau said oil revenues have helped to prop up President...
There were no imports from Russia for 2021 or 2020, the analysis added. While Canada produces more crude than its refineries require to produce refined petroleum products (RPPs) from, western provinces in Canada still import crude oil as they are located away from major production sources, CER said.
Mar 30, 2022 · Crude oil imports into Canada in 2021 dropped to their lowest in more than three decades as domestic supply from pipelines increased while a major refinery in Newfoundland remained idle,...
- Figure 1. Countries Canada Imports Crude Oil from
- Figure 2. Origin and Cost of Crude Oil Imported to Eastern Provinces
- Figure 3. Weekly Refinery Crude Utilization by Region
Imports by region
In 2020, all of the eastern Canadian importing provinces imported less oil compared to 2019. The primary reason for the drop in imports during 2020 was related to COVID-19, as refineries processed less crude oil due to lower demand for refined petroleum products (e.g. gasoline and jet fuel) during the COVID-19 pandemic. Additionally, Newfoundland and Labrador’s crude oil imports dropped by more than 70% because of the idling of the Come by Chance Refineryin March 2020. The Come by Chance Refi...
Cost of imported oil
Generally, imported oil is more costly than Canadian crude oil transported by pipeline. The total cost of all imported crude oil was $11.5 billion in 2020, a drop of 40% from 2019 when the cost was $18.9 billionFootnote 2. This is due to both the 20% decline in imported volumes, and the decline in global crude prices due to OPEC+ actions and COVID-19market impacts. Newfoundland and Labrador had the highest import cost per barrel of crude oil in 2020 and throughout recent years. Newfoundland a...
Recovery of refinery utilizations
When the COVID-19 pandemic hit, refineries in all regions of Canada were materially impacted. Western Canadian refineries were impacted less than refineries in Ontario, Quebec, and Atlantic Canada. These western refineries, and to a lesser extent those in Ontario, made substantial recoveries by the end of 2020. Refineries in the main importing regions of Quebec and Atlantic Canada have been slower to recover from the pandemic impacts compared to refineries in the rest of Canada. As a result,...
Cost of imported oil
In 2020, Canada reduced its reliance on imports, especially non-U.S. imports. Overall, Canada imported less crude oil in 2020 than 2019 largely due to the impacts of the COVID-19 pandemic in reducing refinery demand. The cost of the total oil imported also declined substantially, as not only were import volumes lower, but global prices dropped early in the pandemic. Newfoundland and Labrador has been impacted most with the idling of the Come by Chance refinery, leaving the province without a...
Mar 30, 2022 · Crude oil imports into Canada in 2021 dropped to their lowest in more than three decades as domestic supply from pipelines increased while a major refinery in Newfoundland remained idle, the Canada Energy Regulator said on Wednesday.
Mar 30, 2022 · The total cost of imported crude oil was $14.7 billion in 2021, an increase of 30% from 2020 at $11.3 billion, following global crude prices recovering in 2021 after the COVID-19 pandemic, the...
