Canada Oil and Gas Upstream Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The report covers Canadian Oil and Gas Upstream Producers and the market is segmented by Location of Deployment (Onshore and Offshore).

Canada Oil and Gas Upstream Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Canada Oil and Gas Upstream Market Size

canada oil and gas upstream market overview
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 4.50 %
Market Concentration Medium

Major Players

canada oil and gas upstream market major players

*Disclaimer: Major Players sorted in no particular order

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Canada Oil and Gas Upstream Market Analysis

The Canada Oil and Gas Upstream Market is expected to register a CAGR of greater than 4.5% during the forecast period.

  • The offshore segment is expected to witness significant growth during the forecast period, owing to increasing offshore oil and gas exploration and production activities in Canada.
  • The increasing upstream capital investments in Canada are likely to create a good number of opportunities for the Canadian oil and gas upstream market in the coming years.
  • Increasing investments in exploration and production activities are likely to drive the Canadian oil and gas upstream market during the forecast period.

Canada Oil and Gas Upstream Industry Overview

The Canadian oil and gas upstream market is moderately consolidated. The key players in the market include TotalEnergies SE, Exxon Mobil Corporation, Chevron Corporation, BP PLC, and Shell PLC.

Canada Oil and Gas Upstream Market Leaders

  1. TotalEnergies SE 

  2. Exxon Mobil Corporation

  3. Chevron Corporation

  4. BP plc 

  5. Shell plc

  6. *Disclaimer: Major Players sorted in no particular order
TotalEnergies SE, Exxon Mobil Corporation, Chevron Corporation, BP PLC, Shell PLC.
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Canada Oil and Gas Upstream Market News

  • In January 2021, Chevron Canada, Equinor Canada, and BHP Petroleum (New Ventures) secured approvals from the Environment and Climate Change Minister to conduct drilling at three offshore drilling projects east of St. John's, Newfoundland, and Labrador. The companies have proposed operating offshore platforms like ships and helicopters to conduct exploration drilling and well testing.

Canada Oil and Gas Upstream Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Oil and Gas Reserves, Canada, till 2020
  • 4.3 Crude Oil Production and Consumption Forecast in thousand barrels per day, till 2027
  • 4.4 Natural Gas Production and Consumption Forecast in billion cubic feet per day, till 2027
  • 4.5 Recent Trends and Developments
  • 4.6 Government Policies and Regulations
  • 4.7 Market Dynamics
    • 4.7.1 Drivers
    • 4.7.2 Restraints
  • 4.8 Supply Chain Analysis
  • 4.9 PESTLE Analysis

5. MARKET SEGMENTATION - BY LOCATION OF DEPLOYMENT

  • 5.1 Onshore
  • 5.2 Offshore

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 TotalEnergies SE
    • 6.3.2 Exxon Mobil Corporation
    • 6.3.3 Chevron Corporation
    • 6.3.4 BP PLC
    • 6.3.5 Shell PLC
    • 6.3.6 Cenovus Energy Inc.
    • 6.3.7 ConocoPhillips
    • 6.3.8 Tourmaline Oil Corp.
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Canada Oil and Gas Upstream Industry Segmentation

The Canadian oil and gas upstream market report includes:

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Canada Oil and Gas Upstream Market Research FAQs

What is the current Canada Oil and Gas Upstream Market size?

The Canada Oil and Gas Upstream Market is projected to register a CAGR of greater than 4.5% during the forecast period (2025-2030)

Who are the key players in Canada Oil and Gas Upstream Market?

TotalEnergies SE, Exxon Mobil Corporation, Chevron Corporation, BP plc and Shell plc are the major companies operating in the Canada Oil and Gas Upstream Market.

What years does this Canada Oil and Gas Upstream Market cover?

The report covers the Canada Oil and Gas Upstream Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Canada Oil and Gas Upstream Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Canada Oil & Gas Upstream Industry Report

Statistics for the 2025 Canada Oil and Gas Upstream market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Canada Oil and Gas Upstream analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.