Petro-Canada is a publicly traded, Canadian integrated oil and gas company with headquarters in Calgary, Alberta. The Company's core business lays in petrochemical products, refining and supply operations, retail and marketing networks, and a specialty lubricants business.
Petro Canada has evolved to be one of the major players in the petroleum industry and uses price as well as non-price strategies to enhance market share. In today's changing environment, where gasoline prices are volatile and supply and demand is shifting, Petro-Canada should create long-term plans and expand the current portfolio of assets and products. The company needs to be aware that escalating prices of gasoline as well as the alternative fuel sources and more economic cars, may negatively affect demand for gasoline and therefore product sales and price of gasoline in the future. Although Petro-Canada revenues increased by 23% in 2006, crude oil and products purchases increased over 31%; therefore, the net profits slightly increased to1.9% in 2006. Technology plays a significant role in reducing the operation cost and increasing reliability. Petro-Canada is committed to maintaining long-term oil reserves by investing in oil explorations to reduce fluctuations-effects of crude oil prices. Petro-Canada needs to exploit the present opportunity of the higher price environment by making today's fuels better and by developing new fuels for tomorrow's vehicles. Economic Indicators like GDP, interest rates and unemployment play a huge role and are vital to Petro Canada decisions. Based on these factors, Petro Canada is able to make viable decisions and hold its position as one of the top companies in the petroleum industry.
Petro-Canada was founded as a Crown Corporation by an act of Parliament in Ottawa, Ontario in 1975. Petro Canada is one of Canada's largest integrated oil and gas companies. Petro Canada operates efficiently with almost 5,000... [continues]
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