CANADIAN OIL AND GAS STOCKS Canada has approximately six billion barrels of oil located outside the oil sands, which is referred to as conventional oil. Conventional oil is either light or heavy. Heavy refers to oil with a thick consistency that does not flow easily.
Light oil can flow naturally to the surface or is extracted from the ground using pumpjacks. Pumpjacks are also used to remove heavy oil from the ground.Conventional oil is produced on land and offshore. In Western Canada, oil is transported by pipelines from the production facility to refineries where it is upgraded into products like gasoline, heating oil and jet fuel. Offshore Newfoundland and Labrador transport crude oil to markets by tanker.TO READ MORE....