Hard hit oil and gas sector leads to GDP decline

The anticipated reduction in oil and gas production and investment will be dramatic and will lead to significant drops in GDP and total number of jobs

Hard hit oil and gas sector leads to GDP declineUnless supply and demand conditions for oil and gas unexpectedly improve during the course of 2020, the anticipated reduction in oil and gas production and investment will be dramatic and will lead to significant drops in GDP and total number of jobs in the total economy, says a new report released Wednesday by Statistics Canada.…

State of Canada’s energy sector

Tim McMillan, President and CEO of the Canadian Association of Petroleum Producers, talks about the state of the industry amid lower oil prices and the COVID crisis

On today's episode of Business Insider with Mario Toneguzzi, Tim McMillan, President and CEO of the Canadian Association of Petroleum Producers, talks about the state of the industry amid lower oil prices and the COVID crisis.

Canadian crude oil production plunges amid COVID-19

Canada produced 129.2 million barrel of crude oil and equivalent products in April, down 9% from April 2019, largest year-over-year decrease since June 2016

Canadian crude oil production plunges amid COVID-19Canada produced 20.5 million cubic metres (129.2 million barrels) of crude oil and equivalent products in April, down 9.0 per cent from April 2019, which was the largest year-over-year decrease since June 2016 (-9.4 per cent) in the aftermath of the widespread wildfires that affected northern Alberta earlier that spring, according to Statistics Canada. The…

Natural resource sector a key to Alberta’s economy

Weak oil prices and pipeline bottlenecks have pushed the number of jobs in Alberta down by about 32,000 (16 per cent) since the peak reached in 2013

Natural resource sector a key to Alberta’s economyWe've all known for years how important the natural resource sector is to the overall Alberta economy, now new data illustrates it. Citing Statistics Canada, ATB Financial's Economics & Research Team says Alberta’s natural resource sector produced a third (33 per cent) of Alberta’s real GDP in 2018. The proportion for Canada as a whole…
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