Biggest Oil and Gas Companies in Canada

by Usama Chaudry on September 7, 2022

With an average daily production of 3.5 million barrels of crude oil and 13.7 billion cubic feet of natural gas, Canada is the world’s fifth-largest oil and natural gas producer.

In Canada, as in other countries, the oil and gas industry is split up into three major segments: 

  • Upstream 
  • Midstream
  • Downstream

Exploration and production of crude oil and natural gas are carried out by upstream firms. Such firms look for oil beneath the ground and drill wells to access oil and gas reserves.

Midstream firms handle oil and gas storage and transportation, whereas downstream firms distill and sell finished petroleum products.

This article will look at the biggest oil and gas companies in Canada, their revenue, net income, market cap, and one-year trailing total return.

10 Biggest Oil and Gas Companies in Canada in 2022

Below we’ll list the top Canadian oil and gas companies in 2022. For all the companies in the oil and gas industry that we’ll list below, we’ll also tell you their revenue, net income, market Cap, 1-year trailing total return along with the most jobs offered by each company.

  1. Enbridge Inc.
  2. Suncor Energy Inc.
  3. Imperial Oil Ltd.
  4. Canadian Natural Resources Ltd.
  5. Cenovus Energy Inc.
  6. Husky Energy Inc.
  7. Parkland Fuel Corp.
  8. TC Energy Corp.
  9. Gibson Energy Inc.
  10. Pembina Pipeline Corp.

1. Enbridge Inc.

Revenue: CA$50.1 billion

Net Income: CA$5.7 billion

Market Cap: CA$78.7 billion

1 Year Trailing Total Return: -16.0%

Most Jobs Offered By Enbridge Inc In Oil And Gas Sector

Electrical Engineer Specialist

Supervisor, Record

Senior Mechanical Engineer – Facilities

Sr Engineer

Manager TIS End User Services

Meter Facility Senior Engineer

Pipeline Technician

2. Suncor Energy Inc.

Revenue: CA$38.3 billion

Net Income: CA$2.9 billion

Market Cap: CA$25.1 billion

1 Year Trailing Total Return: -60.5%

Most Jobs Offered By Suncor Energy Inc In Oil And Gas Sector

Pipefitter and Welder

Process Engineer

Pump Mechanic

Manager, Crude and Products Scheduling

Laboratory Supervisor

Turnaround Execution

Supervisor Operations

3. Imperial Oil Ltd.

Revenue: CA$34.0 billion

Net Income: CA$2.2 billion

Market Cap: CA$9.8 billion

1 Year Trailing Total Return: -62.0%

Most Jobs Offered By Imperial Oil Ltd. In Oil And Gas Sector

Commercial Coordinator

Field Connectivity Analyst

Central Plant Operator

Energy Technical Lead

XTO Medium Voltage Technician

Independent Operator

XTO Completion/Well Work Foreman

4. Canadian Natural Resources Ltd.

Revenue: CA$24.4 billion

Net Income: CA$5.4 billion

Market Cap: CA$15.7 billion

1 Year Trailing Total Return: -60.8%

Most Jobs Offered By Canadian Natural Resources Ltd. In Oil And Gas Sector

Field Technologist

Engineering and Technical Services Program Manager

Engineering Technologist

Remote Sensing Analyst

Materials Characterization Specialist

Materials Processing Scientist

Geoscience Field, Laboratory, and Office Assistants

5. Cenovus Energy Inc.

Revenue: CA$21.4 billion

Net Income: CA$2.2 billion

Market Cap: CA$2.9 billion 

1 Year Trailing Total Return: -79.0%

Most Jobs Offered By Cenovus Energy Inc. In Oil And Gas Sector

QA Control Engineer

Scheduling Analyst

Senior Financial Analyst

Stationary Mechanical Lead

Business Analyst

Data Technician

Communications Advisor

6. Husky Energy Inc.

Revenue: CA$20.3 billion

Net Income: -CA$1.4 billion

Market Cap: CA$3.2 billion

1 Year Trailing Total Return: -73.8%

Most Jobs Offered By Husky Energy Inc. In Oil And Gas Sector

Procurement Advisor

Laboratory Technician

Financial Analyst

Assistant, Payroll

Refinery Shift Superintendent

Scheduling Analyst

Process Controls Engineer Sr

7. Parkland Fuel Corp.

Revenue: CA$18.5 billion

Net Income: CA$402.0 million

Market Cap: CA$3.6 billion

1 Year Trailing Total Return: -37.7%

Most Jobs Offered By Parkland Fuel Corp. In Oil And Gas Sector

Yard Services Attendant

Account Manager I

Service Helper

Sales Associate

Supply Optimization Mgr

Senior Financial Analyst

Warehouse Technician

8. TC Energy Corp.

Revenue: CA$13.3 billion

Net Income: CA$4.1 billion 

Market Cap: CA$54.7 billion

1 Year Trailing Total Return: 0.4%

Most Jobs Offered By TC Energy Corp. In Oil And Gas Sector

Pipeliner

Measurement & Regulation Specialist

Senior Natural Gas Scheduler

Pipeline Technician

Maintenance Lead

Compression Engineer

Mechanical Technician

9. Gibson Energy Inc.

Revenue: CA$7.3 billion

Net Income: CA$182.9 million

Market Cap: CA$2.3 billion

1 Year Trailing Total Return: -29.8%

Most Jobs Offered By Gibson Energy Inc. In Oil And Gas Sector

Commercial Analyst

CDL Driver

Cleaning Tech

Project Manager, Facilities

Power Transmission Analyst

Senior Natural Gas Derivatives Trader

Director Short Term Marketing

10. Pembina Pipeline Corp.

Revenue: CA$7.2 billion

Net Income: CA$1.5 billion

Market Cap: CA$13.2 billion

1 Year Trailing Total Return: -48.2%

Most Jobs Offered By Pembina Pipeline Corp. In Oil And Gas Sector

Operator

Operations Technician

Senior Account Manager

Technical Services Analyst II

Subsurface Technician

Oil and Gas Revenue Auditor

Delivery Operations Executive

List of Top Oil and Gas Companies in Alberta

Here is a list of the 5 top oil and gas companies in Alberta:

1. Canadian Natural Resources Limited

Revenue: CA$30.867 billion

Net Income: CA$8.956 billion

Number of employees: 9,709

2. Shell Canada Limited

Revenue: CA$338.025 billion

Net Income: CA$36.169 billion

Number of employees: 3,100

3. Cenovus Energy Inc.

Revenue: CA$48.948 billion

Net Income: CA$3.266 billion

Number of employees: 2,300

4. Ovintiv Canada ULC

Revenue: CA$10.831 billion

Net Income: CA$2.428 billion

Number of employees: 1,713

5. ConocoPhillips Canada Resources Corp

Revenue: CA$68.859 billion

Net Income: CA$15.910 billion

Number of employees: 2,750

List of top Oil and Gas Companies in Calgary

The following are the top 5 oil and gas companies in Calgary:

1. Syncrude Canada Ltd

Revenue: CA$5.2 billion

Net Income: CA$3.996 billion

Number of employees: 3,588

2. Tourmaline Oil Corp

Revenue: CA$2.31 billion

Net Income: CA$822.94 million

Number of employees: 322

3. PetroKazakhstan Inc

Revenue: CA$1.4 billion

Net Income: CA$317.5 million

Number of employees: 4,407

4. MEG Energy Corp 

Revenue: CA$1.57 billion

Net Income: CA$225 million

Number of employees: 939

5. Inter Pipeline Ltd 

Revenue: CA$1.80 billion

Net Income: CA$63.9 million

Number of employees: 1,973

List of top Oil and Gas Companies in Edmonton

The following are the top 5 oil and gas companies in Edmonton:

1. Thiess KMC Joint Venture

Revenue: CA$3.11 million

Net Income: CA$2.43 million

Number of employees: 56

2. Pitbull Energy Services

Revenue: CA$15.1 million

Net Income: CA$4.8 million

Number of employees: 79

3. Trans Mountain Corporation

Revenue: CA$728 million

Net Income: CA$273.3 million

Number of employees: 101

4. Plainsman Mfg. Inc.

Revenue: CA$25.4 million

Net Income: CA$13.82 million

Number of employees: 110

5. Deep Well Oil & Gas Inc

Revenue: CA$3.20 million

Net Income: CA$1.26 million

Number of employees: 21

List of top Oil and Gas Companies in Saskatchewan

Here is a list of the top 5 oil and gas companies in Saskatchewan:

1. Marsollier Petroleum

Revenue: CA$12 million

Net Income: CA$5.2 million

Number of employees: 52

2. Canadian Plains Energy Services

Revenue: CA$7.7 million

Net Income: CA$2.41 million

Number of employees: 24

3. Aldon Oils Ltd

Revenue: CA$4.1 million

Net Income: CA$2.5 million

Number of employees: 23

4. Millsap Fuel Distributors

Revenue: CA$7.8 million

Net Income: CA$4.45 million

Number of employees: 30

5. Rack Petroleum

Revenue: CA$36.3 million

Net Income: CA$11.89 million

Number of employees: 13

Largest Oil Producer In Canada

Alberta is Canada’s top oil producer, accounting for 80% of the country’s total oil production in 2020. The oil-based products produced in Alberta include:

  • Light crude oil
  • Heavy crude oil
  • Crude bitumen
  • Natural-gas condensate
  • Synthetic crude oil

In 2021, Alberta produced a record 3.61 million barrels per day, including conventional oil. These results are up over 10 percent from the previous year and 87,000 barrels per day, more than the 2019 record of 3.52 million barrels per day.

The vast oil sand reserves in the northern part provided the majority of the country’s oil production, which has been steadily increasing in recent years. These resources provide Canada with the world’s third-largest oil reserves, after only Venezuela’s similar but more significant reserves and Saudi Arabia’s traditional oil reserves.

Although Alberta has already produced nearly 90 percent of its conventional crude oil reserves, it has produced only 5 percent of its oil sands. Its remaining oil sand reserves constitute 98 percent of Canada’s established oil reserves.

The oil sands currently account for 86 percent of Alberta’s total oil production, including upgraded synthetic crude and clean, marketable bitumen.

Largest Natural Gas Producer in Canada

Alberta is presently the province with the highest natural gas production in Canada. The province of Alberta produced 67.1 percent of total natural gas in Canada in 2016.

Alberta’s gas fields produced more than 121 billion cubic meters of natural gas in 2020. This was nearly twice as much as the amount extracted in the second-placed province of British Columbia.

A total of 10,000 direct or indirect oil and natural gas production jobs in Canada are supported by Alberta. From exploration and drilling to transportation and marketing, these jobs contribute to the provincial economy and provide Albertans with good, well-paying careers.

Frequently Asked Questions:

1- How many oil and gas companies are there in Canada?

Over 1,000 exploration and production oil and gas companies operating in Canada, ranging from small “juniors” or “start-ups” concentrating on small areas or typical activities to major multinationals with various operations like Suncor Energy Inc. and Cenovus Energy Inc.

In December 2018, a total of 1,334 active companies in Western Canada reported oil or gas production, including privately held and foreign-owned businesses and publicly traded companies.

2- Is Suncor the largest oil company in Canada?

No, Enbridge is the biggest oil and gas company in Canada. It had made 33.7 billion dollars in revenue in the previous fiscal year of 2021. Enbridge, situated in Calgary, Alberta, is the country’s largest midstream firm.

On the other hand, Suncor is Canada’s largest integrated energy corporation, the country’s fifth-largest North American energy company, and one of the largest independent energy companies in the world.

3- Who owns Canada's oil industry?

The recent sale of oil sands properties by multinational corporations like Shell, ConocoPhillips, Devon, and Equinor follows a pattern that has in the past strengthened Canada’s oil sector.

The Alberta Energy Regulator (AER) recently released statistics showing that nearly 85% of oil sands output was controlled by corporations with Canadian headquarters in September 2021, rising from 59% in September 2014.

Conclusion

The petroleum sector is engaged in 12 of Canada’s 13 provinces and territories, boosting the economy in one way or another inside their borders. These firms buy and sell commodities and services across the country, making oil and gas production and exploration really a national industry.

We hope this article helped you review the biggest oil and gas companies in Canada, which are in charge of the bulk of petroleum production, refining, and marketing.

The oil and gas sector in Alberta, Canada is a key driver of the provincial economy. The sector employs thousands of people across the province, in a variety of roles. From engineers and geologists to truck drivers and rig workers, the oil and gas sector offers a wide range of career opportunities. If you’re interested in working in the oil and gas sector, Alberta is the place to be.

Usama ChaudryUsama is a professional engineer and graduated from the University of Alberta. Computations of electrical and thermal characteristics are among his research interests. Usama's hobbies outside of professional work include reading, playing tennis, and trekking.

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