With branches across Canada and customers in more than 50 countries, the Bank of Nova Scotia (Scotiabank) is among the world’s 25 largest banks. Its net income in 2017 totalled US$7.9 billion,1 making it one of the top financial institutions in Canada.

Tourmaline Oil Corporation—a natural gas and oil exploration and production company operating in Western Canada—is Canada’s second-largest natural gas producer.2

Kinder Morgan Canada Limited (KML) is a fossil fuel pipeline and terminal company operating in British Columbia (BC), Alberta and Saskatchewan. Its Houston-based parent company, Kinder Morgan Inc. (KMI), is one of the largest energy infrastructure companies in North America, transporting nearly 2.1 million barrels of petroleum products per day.3

Pembina Pipeline Corporation is an oil and gas pipeline and infrastructure company based in Calgary, Alberta. Pembina operates conventional oil, heavy crude and natural gas pipelines, as well as providing storage and midstream oil and gas services in Canada and the United States.

LNG Canada is a joint venture consortium—made up of Shell, PETRONAS, PetroChina, Mitsubishi and Korea Gas Corporation (KOGAS)—that plans to build a liquified natural gas (LNG) terminal in the town of Kitimat, British Columbia (BC). The facility will liquefy fracked gas from BC and Alberta so it can be shipped internationally by tanker. LNG is primarily destined for the markets of consortium partners (China, Japan, Korea and Malaysia). In 2018, the joint partners made a final investment decision to proceed with construction of Phase One,4 with plans to produce 14 million tonnes of LNG per year,5 and potential to double that capacity through a future Phase Two.

The China National Offshore Oil Corporation Ltd. (CNOOC) is one of the largest oil and gas corporations in the world. CNOOC’s Canadian operations, formerly known as Nexen Inc, include assets in oil sands, fracked gas and offshore oil drilling throughout the country. The following case study emphasizes CNOOC’s Canadian operations only.

Crescent Point Energy Corporation is an oil and gas exploration and development company based in Calgary, Alberta. The firm was established in 2001, and following numerous mergers and acquisitions, it has grown into one of the largest light and medium crude oil producers in Canada today. It is Saskatchewan’s largest oil producer and has been “by far the most active driller in the country for the past several years.”6 Crescent Point also exploits natural gas liquids and natural gas, totalling roughly 30 per cent of its 2017 production levels.7

Cenovus Energy is the third-largest oil sands company in Canada by known reserves,8 holding major assets in conventional and unconventional oil in Alberta, as well as natural gas in Alberta and British Columbia (BC).

Encana Corporation is a natural gas, oil and natural gas liquids producer operating in Canada and the United States.

Husky Energy is one of Canada’s largest integrated energy companies, with domestic operations focused on thermal bitumen (heavy oil) production in Western Canada and offshore oil extraction in Atlantic Canada. It operates internationally in the Asia Pacific region, producing offshore natural gas in Indonesia and China. Husky also owns a number of retail gas operations in Canada, extending from British Columbia (BC) to Ontario.

Imperial Oil is Canada’s second-largest integrated oil company. It is Canada’s largest petroleum refiner9 and one of its largest natural gas producers, with total assets valued at over C$41 billion in 2017.10

The first corporation to develop Canada’s oil sands in the 1960s, Suncor Energy continues to hold a dominant position as Canada’s largest energy company, and the world’s largest bitumen producer. Based in Calgary, Alberta, Suncor has operations that span the oil and gas commodity chain, specializing in conventional and in situ oil sands production in the Athabasca region.