Search results
Nov 23, 2022 · By mid-2014, Canadian oil and gas investments reached a new high of over $80 billion, with the sector’s share of total industrial investment also peaking that year at 24%. By late 2014 to early 2015, however, crude oil prices – and Canadian oil and gas investment – fell rapidly.
- Crude oil price. The price of crude oil is the most important factor that drives production and investment in the oil and gas extraction sector. Chart 1 presents movements in two of the most relevant crude oil prices for Canada, the WTI and the Western Canadian Select (WCS) from January 2019 to February 2021.
- Production and employment. Chart 2 presents monthly production and employment in the oil and gas extraction industry and in all industries as a whole from January 2019 to April 2021.
- Crude oil and merchandise exports. The global value chain and, therefore, merchandise exports have been greatly affected by the pandemic because of declining demand.
- Capital expenditures. Capital expenditures in oil and gas extraction are highly related to crude oil price. Lower oil prices will drive down the profit level of oil and gas extraction and ultimately discourage investment in the industry, and this will affect its production capacity in the long term.
- Vaccines and Economic Recovery
- More Consolidation
- Emissions Plans
- Clouds Over Keystone XL
- Preparing For The Energy Future
The spread of COVID-19 around the world this year squashed fuel demand, taking crude oil prices down with it. Those prices eventurned negativeat one point. Canada's oilpatch slashed jobs and spending. Market watchers expect vaccines will help air and automobile travel pick up again, lifting oil demand, but when and how much remain topics of debate....
The $3.8-billion merger of two key players in the Canadian oil and gas business — Husky Energy and Cenovus Energy— was among the big surprises of 2020. The Canadian oil and gas sector is unlikely to see another merger of such size in 2021, but analysts believe consolidation will continue in the months ahead. "There's a lot of small operators with g...
The federal Liberal government recently laid out plans for cutting greenhouse gas emissions, and debate overthe strategy is sure to continue well into 2021. The centrepiece of the policy is a gradual increase in the federal carbon tax on fuels, which means pump prices, for example, will rise by more than 37 cents a litre by 2030. Rebates will be us...
The long-running saga surrounding Keystone XL could come to a head in 2021. The pipeline project, which aims to get more Alberta crude to Gulf Coast refineries in the U.S., has long faced environmental opposition. Soon, it will face an unfriendly White House, too. President-elect Joe Biden has called it "tarsands that we don't need," with environme...
Expect to hear more talk from policy-makers and executives about preparing for the energy future, whether that's innovation in the oil industry, geothermal technology or hydrogen development. "I think this is the year that companies can really set the course for where they want to go over the next decade, and maybe the next two or three decades," s...
Mar 23, 2020 · In the two weeks since an oil price war broke out between Russia and Saudi Arabia, crude prices have plunged to their lowest levels in years, hammering Canada's oilpatch all the way...
Mar 7, 2024 · In 2024, we estimate that Canadian oil production could advance by 6–10%, roughly equivalent to 300–500k/bpd. The band is fairly wide to incorporate lingering uncertainties, but even on the low end, this would match average annual growth in the booming years between 2010–2015.
Jun 8, 2022 · Oil prices around the world have risen to their highest levels in years, but Canadian oilsands producers are seeing comparatively less for every barrel because of imbalances in supply and...
People also ask
What happened to Canadian oil & gas investment in 2014?
What happened to Canadian oil and gas?
Why did Canadian Oil & Gas Investment go down in 2008?
How important is the price of crude oil?
How did crude oil prices change in Canada?
Does Canadian oil and gas investment follow oil prices?
Jun 12, 2024 · Canadian and United States oil producers are set to break output records through 2030, according to the International Energy Agency (IEA) in a new report calling for a “staggering” global surplus of crude by the end of the decade. The agency’s latest annual oil forecast calls for global oil demand to peak by 2029, and begin to shrink the ...
