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Almost recovered
- The Canadian oil and gas extraction industry was found to have almost recovered in terms of production, employment and exports after experiencing sharp declines in economic activity as oil prices plummeted early in the COVID-19 pandemic.
www150.statcan.gc.ca/n1/pub/36-28-0001/2021007/article/00003-eng.pdfThe oil and gas sector in Canada: A year after the start of ...
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Apr 4, 2023 · TORONTO - A surprise production cut by the Organization of Petroleum Exporting Countries and its allies (OPEC plus) is just one factor lifting the spirits of Canada's energy sector executives these...
Dec 14, 2023 · Outlook good for Canadian oil and gas sector, says industry report, but risks remain. Key highlights of the report show that oil prices are expected to remain strong, demand will be robust,...
Oct 12, 2023 · In 2024, Canada could be the largest source of growth in global crude oil production. The country's expected jump in oil output of about 500,000 bpd is higher than the 400,000 bpd projected...
- Global Prices Drive Canadian Oil Exports
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The projections come at a particularly lucrative time for the industry; the five largest companies that operate in Canada's oilsands made about $35 billion in profits in 2022. But the models should be a warning for many oil and gas companies, climate experts say, calling into question the future of fossil fuel use and production in Canada. On the o...
The report shows that "we need to be careful, especially where public money is dedicated. We need to ensure that it goes to projects that are going to be competitive in the long term," said Jan Gorski, director of the oil and gas program at the Pembina Institute, an energy think-tank. "And not every project will be competitive. Some of those projec...
The CER's scenarios show electricity use increasing to power all the electric cars, building heating systems and other clean technologies that will replace fossil fuels in the lives of Canadians. And that new electricity will come from cleaner sources — with wind energy growing nearly seven to nine times its current levels by 2050. That's not surpr...
Aug 23, 2023 · Increasing production would be at odds with the Canadian government's effort to meet its goal of cutting carbon emissions by 40-45% by 2030, given oil and gas is the country's...
Mar 7, 2024 · Canadian oil is back in the spotlight for 2024. The boost in expected output is made possible by the Trans Mountain Pipeline expansion, the completion of maintenance at major facilities, continued sector investment and a still-supportive commodities backdrop.
Mar 2, 2023 · CALGARY — Investment in oil and gas production in Canada will jump by 11 per cent to hit $40 billion in 2023, the country’s largest fossil fuel industry group said Wednesday.
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