10 Biggest Companies in Canada for Oil & Gas

The upstream, midstream and downstream segments make up the majority of the oil and gas business in Canada, as they do in other regions. Exploration and production (E&P) of crude oil and natural gas is a service provided by upstream corporations.

This includes drilling wells to reach underground oil reserves and also searching for oil.

In some instances, like the Canadian oil sands, businesses either mine for crude bitumen, an extremely dense and viscous form of crude oil, or they employ in situ recovery techniques that involve putting chemicals and steam deep underground to separate the bitumen from the sand and bring it to the surface.

The break-even price of oil for producers of oil from sands is occasionally greater than for producers using more conventional techniques because both are quite expensive when compared to conventional well-extraction techniques.

Best Companies in Canada for Oil & Gas

Canada continuously ranks among the top 10 producers of natural gas and was the third largest energy exporter in the world in 2021, according to the U.S. Energy Information Administration.

The market valuation of each of the top seven businesses on our ranking of the ten largest energy corporations in Canada was greater than $20b. Two companies’ market capitalizations exceeded $10b, while one’s is just shy of that amount.

Let’s look at some of the companies which have the best paying jobs in oil & gas production.

Enbridge Inc.

As of April 2022, Enbridge Inc. had a market value of $90.42b USD ($116.02b CA).

The biggest energy firm in Canada is Enbridge. It prioritizes moving energy rather than generating it. Oil pipelines, alternative energy, and natural gas distribution are all areas operated by Enbridge.

As of February 2022, the company’s stock dividend yield was 7.21 percent.

Canadian Natural Resources

Canadian Natural Resources Ltd. is an exploration and production firm that operates in the North Sea, offshore African areas, and Western Canada for the production of crude oil and natural gas.

Canadian Natural Resources’ market capitalization in April 2022 was $72.87b USD (or $93b CAD). As of March 2022, the company’s stock dividend yield was 3.23 percent.

TC Energy Corp

An energy company with operations in energy infrastructure and power production is TC Pipeline & Energy Corporation, formerly known as TransCanada. Its massive pipeline activities for oil and natural gas span both Canada and the United States.

As of April 2022, it had a $55.07b market value in the United States ($70.49b in Canadian currency).

As of March 2022, TC Energy’s dividend yield was 7.26%.

Suncor Energy Incorporation

An integrated oil and gas business with activities in both Canada and the United States is Suncor Energy Inc.

The majority of the company’s annual production comes from its Canadian oil sands operations. With a market value of $52.85b US ($67.65 billion Canadian) in April 2022, Suncor was the fourth-largest energy business in Canada.

As of March 2022, the company’s dividend yield was 2.71 percent.

Cenovus Energy

Another significant integrated energy business with oil and gas exploration operations is Cenovus Energy, Inc. Additionally, the company produces and refines oil. The corporation has significant oil sands assets in addition to conventional oil and natural gas reserves.

These holdings increased after Cenovus acquired ConocoPhillips’ 50% interest in 2017. As of April 2022, the corporation had a market value of $38.74b USD (or $49.5b CAD).

As of March 2022, CVE had a low dividend yield of just 0.50 percent, in contrast to the other best achievers.

Imperial Oil

Imperial Oil Ltd. is a well-known integrated oil and gas company. The corporation not only engages in refining and petrochemical processes, but also sells fuel, lubricants, and other goods under the Esso and Mobil brands.

As of April 2022, the market value of Imperial Oil was $33.58b USD (or 42.98b CA).

As of March 2022, the dividend yield was 1.83 percent.

Pembina Pipeline Corp

In April 2022, the market capitalization of Pembina Pipeline Corporation was $21.25b USD ($27.2b CAD).

The business is divided into three divisions: pipelines, processing, and new initiatives. Pembina started operating in 1997, and the company’s Calgary headquarters support its emphasis on Western Canada.

As of April 2022, the dividend yield was 5.70 percent.

Tourmaline Oil

With operations in the Western Canadian Sedimentary Basin, Tourmaline Oil is the largest natural gas producer in Canada. Being the best sustainable energy business in North America is its main objective.

Tourmaline concentrates on methods and technologies to reduce the environmental impact. It was given a $3.22m grant to create an emissions-reducing drilling technology using electricity.

Its market value was $17.03b U.S. dollars ($21.75b Canadian) in April 2022.

As of April 2022, it had a 1.23 percent dividend yield.


The fuel necessary for cleaner air is provided by Cameco, a global supplier. Mineral reserves and uranium concentrates are produced. Additionally, it offers services for the manufacture, conversion, and refinement of uranium.

Cameco ships the nuclear fuel products used to produce power around the world. The corporation had a market value of $10.51b ($13.39b Canadian) as of April 2022. As of December 2021, its dividend yield was 0.23 percent.

Arc Resources

Leading oil and gas business Arc Resources concentrates its operations in Alberta’s Montney region and northeast British Columbia. About 62 percent of its commodities are natural gas, while 38 percents are crude oil and liquids.

Currently, 345,000 barrels of oil equivalent are produced there each day.

Its market value was $9.53b ($12.20b Canadian) as of April 2022. As of January 2022, the company’s dividend yield was 1.62 percent.


Oil and gas is truly a wonderful industry that offers many job opportunities in Canada. As you can see on this list, many big companies work in the oil and gas sector. If you are interested, then do apply and get your dream job!