The oil industry in Canada is an important sector of the economy, and is represented by the term PETRO. It is responsible for the production, refining, and distribution of petroleum products, as well as related activities such as exploration and transportation. The industry has a long history in Canada, with the first oil well being drilled in 1858. Today, the oil industry in Canada is one of the largest in the world, with the majority of production coming from the Alberta oil sands.