Energy trade surplus slips 7.9% - April 13, 2003

Providing coverage of Alaska and northern Canada's oil and gas industryApril 2003

Vol. 8, No. 15

Week of April 13, 2003

Energy trade surplus slips 7.9%

Gary Park, Petroleum News Calgary correspondent

The value of Canada’s energy exports to the United States fell sharply in 2002 to C$50.4 billion (US$34.3 billion), according to federal government statistics.

With natural gas and electricity taking the heaviest bruising, the overall returns dropped by 7.9 percent from a record high of C$54.74 billion (US$37.2 billion).

Imports of crude oil to Canada, predominantly from the Middle East to Eastern Canadian refineries, also fell last year to C$16.46 billion (US$11.19 billion) from C$17.75 billion (US$12.07 billion).

The government reported natural gas sales within Canada jumped 5.4 percent in 2002 to 2.49 trillion cubic feet, led by an 8.7 percent increase in the commercial sector to 476 billion cubic feet.

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