PUBLISHER: GlobalData | PRODUCT CODE: 1396013
PUBLISHER: GlobalData | PRODUCT CODE: 1396013
Canada is the second-largest hydrocarbon producer in North America behind the United States (US). Oil was first discovered in Canada in 1858, in a site known as Black Creek in Southern Ontario, becoming the first oil well in North America. The country holds 77.7 billion barrels of crude oil and condensate reserves, of which 52.3 billion barrels are still unrecovered. Also, the country has 218.6 billion cubic feet (bcf) of Natural Gas reserves, of which 133.9 bcf remain underground.