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Canada's mining, quarrying and oil and gas extraction sector up 1.1% in January - StatCan

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(Kitco News) - According to Statistics Canada (StatCan), the domestic mining, quarrying and oil and gas extraction expanded 1.1% in January after the sector stepped back 3.3% in December, due in part to unplanned maintenance.

This included an oil spill in Kansas, which impacted the supply of Canadian crude oil to the Keystone export pipeline in December.

StatCan said that Canada's oil and gas extraction rose 1.1% in January, led by oil sands extraction (+1.8%) as extraction and exports of crude bitumen increased.

"Still, unplanned upgrader maintenance constrained production of upgraded synthetic oil, which tempered the overall growth in the oil and gas extraction subsector,” the agency noted.

StatCan added that oil and gas extraction (except oil sands) was essentially unchanged in January, as an increase in natural gas production was offset by a decrease in conventional crude oil production, primarily due to lower offshore production in Newfoundland and Labrador and Saskatchewan.

According to the report, the domestic mining and quarrying (excluding oil and gas extraction) rose 1.0% in January, led by a sharp increase in coal mining (+22.5%) as exports, particularly to China, rose.

StatCan also said that declines in non-metallic mineral mining and quarrying (-2.0%) and metal ore mining (-0.5%) partially offset increases in the sector.

Chile's mining sector expands 1.7% in February - report

By

Vladimir Basov

For Kitco News

Contact vbasov@kitco.com
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