Petro-Canada

Economics Discovering The Business World PETRO-CANADA         On July 30, 1975, the Petro-Canada act was passed in parliament to create a Crown corporation. This company was established in order to bring Canada into the oil producing market, and make use of Canadas abundance of internal resources. In 1984, the Conservative political relation told Petro-Canada to focus on going about business in a exclusively commercial manner, focusing on profitability.(see: Petro-Canada, Our History). In 1991, the federal government privatized the company. That is the companys management structure as it is today, with Ron Brennman as CEO and death chair (appointed in 2000).

        Petro-Canadas objectives include the exploration, development, return and marketing of crude oil, natural hired gun, and the sort, as well as the refining, marketing and distribution of crude oil products and related goods and services. More specifically, oil is explored, developed and produced in seaward refreshedfoundland; oil sands production and development is taking govern in northern Alberta; natural gas exploration and production is located in Western Canada; and the refining and marketing of crude products, including lubricants are exported around the world. Petro-Canada alike shares trade on the Toronto and New York Stock Exchanges.

        Throughout the past 25 years, Petro-Canada has been a thriving company, and has been doing exceptionally well in recent years.



In 2000, Petro-Canada boasted embark earnings of $893 million, and a cash flow of $1.8 billion. There was also an 87% growth in shareholder value. Despite a work stoppage in Ontario which commenced in April 2001, internal passage of arms was resolved and collective agreements were reached.

        Likely future developments include face cloth Rose oil from east coast offshore Newfoundland, and Hebron/Ben Navis. seaward Nova Scotia, and the MacKenzie Delta are areas of future development for natural gas. There whitethorn also be the possibility of development of natural gas in Africa, but negotiations were suspended. Petro-Canada...

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