Oil and gas in the context of "Alberta"

Play Trivia Questions online!

or

Skip to study material about Oil and gas in the context of "Alberta"

Ad spacer

⭐ Core Definition: Oil and gas

A fossil fuel is a flammable carbon compound- or hydrocarbon-containing material formed naturally in the Earth's crust from the buried remains of prehistoric organisms (animals, plants or microplanktons), a process that occurs within geological formations. Reservoirs of such compound mixtures, such as coal, petroleum and natural gas, can be extracted and burnt as fuel for human consumption to provide energy for direct use (such as for cooking, heating or lighting), to power heat engines (such as steam or internal combustion engines) that can propel vehicles, or to generate electricity via steam turbine generators. Some fossil fuels are further refined into derivatives such as kerosene, gasoline and diesel, or converted into petrochemicals such as polyolefins (plastics), aromatics and synthetic resins.

The origin of fossil fuels is the anaerobic decomposition of buried dead organisms. The conversion from these organic materials to high-carbon fossil fuels is typically the result of a geological process of millions of years. Due to the length of time it takes for them to form, fossil fuels are considered non-renewable resources.

↓ Menu

>>>PUT SHARE BUTTONS HERE<<<

👉 Oil and gas in the context of Alberta

Alberta is a province in Canada. It is a part of Western Canada and is one of the three prairie provinces. Alberta is bordered by British Columbia to its west, Saskatchewan to its east, the Northwest Territories to its north, and the U.S. state of Montana to its south. Alberta and Saskatchewan are the only two landlocked Canadian provinces. The eastern part of the province is occupied by the Great Plains, while the western part borders the Rocky Mountains. The province has a predominantly continental climate, but seasonal temperatures tend to swing rapidly because it is so arid. Those swings are less pronounced in western Alberta because of its occasional Chinook winds.Alberta is the fourth largest province by area, at 661,848 square kilometres (255,541 square miles), and the fourth most populous, with 4,262,635 residents. Alberta's capital is Edmonton; its largest city is Calgary. The two cities are Alberta's largest census metropolitan areas. More than half of Albertans live in Edmonton or Calgary, which encourages a continuing rivalry between the two cities. English is the province's official language. In 2016, 76.0% of Albertans were anglophone, 1.8% were francophone and 22.2% were allophone.

Alberta's economy is advanced, open, market-based, and characterized by a highly educated workforce, strong institutions and property rights, and sophisticated financial markets. The service sector employs 80% of Albertans, in fields like healthcare, education, professional services, retail, tourism and financial services. The industrial base includes manufacturing, construction, and agriculture (10%, 5%, and 2% of employment respectively), while the knowledge economy includes about 3000 tech companies employing an estimated 60,000 people, mainly in Calgary and Edmonton. The energy sector employs 5% of Albertans but significantly impacts exports and GDP. Alberta's exports, primarily US-bound, consist of 70% oil and gas, 13% food products, and 12% industrial products. Oil and gas are culturally influential, having shaped politics, generated "striking it rich" narratives, and created boom-and-bust cycles. In 2023, Alberta's output was $350 billion, 15% of Canada's GDP.

↓ Explore More Topics
In this Dossier

Oil and gas in the context of World energy consumption

World energy supply and consumption refers to the global supply of energy resources and its consumption. The system of global energy supply consists of the energy development, refinement, and trade of energy. Energy supplies may exist in various forms such as raw resources or more processed and refined forms of energy. The raw energy resources include for example coal, unprocessed oil and gas, uranium. In comparison, the refined forms of energy include for example refined oil that becomes fuel and electricity. Energy resources may be used in various different ways, depending on the specific resource (e.g. coal), and intended end use (industrial, residential, etc.). Energy production and consumption play a significant role in the global economy. It is needed in industry and global transportation. The total energy supply chain, from production to final consumption, involves many activities that cause a loss of useful energy.

Total energy consumption tends to increase by about 1–2% per year. As of 2022, energy consumption is still about 80% from fossil fuels. More recently, renewable energy has been growing rapidly, averaging about 20% increase per year in the 2010s.

↑ Return to Menu

Oil and gas in the context of European Petroleum Survey Group

The International Association of Oil & Gas Producers (IOGP) is the petroleum industry's global forum in which members identify and share best practices to achieve improvements in health, safety, the environment, security, social responsibility, engineering and operations.

The association was formed in London in 1974 to develop effective communications between the upstream industry and the network of international regulators. Originally called the E&P Forum (for oil and gas exploration and production), in 1999 the current name was adopted. Most of the world’s leading publicly traded, private and state-owned oil & gas companies, oil & gas associations and major upstream service companies are members. The IOGP claims its members produce 40% of the world’s oil and gas.

↑ Return to Menu