CAPP seeking federal government support for industry

CAPP said the oil and natural gas sector is Canada's largest industry, generating more than $100 billion in gross domestic product (GDP) annually

CAPP seeking federal government support for industryThe Canadian Association of Petroleum Producers is calling on the federal government to support the industry to attract investment, advance environmental leadership and encourage innovation. In a news release on Thursday, the association said its recommendations to the federal government include: A visible government commitment to work with the oil and natural gas industry to…

Poloz appointed to Enbridge board of directors

Poloz was Governor of the Bank of Canada from 2013 until the conclusion of his tenure on June 2

Poloz appointed to Enbridge board of directorsThe former Governor of the Bank of Canada, Stephen Poloz, has been appointed to the board of directors of Enbridge, the Calgary-based company announced on Thursday. Poloz was Governor of the Bank of Canada from 2013 until the conclusion of his tenure on June 2. As Governor, he was also Chairman of the Board of Directors of the…

Crude oil production slowly ramping up in Canada

Decrease in oil sands extraction, which includes crude bitumen and synthetic crude oil, down 1.9 per cent to 478.6 thousand cubic metres

Crude oil production slowly ramping up in CanadaCanada produced 23.7 million cubic metres (148.9 million barrels) of crude oil and equivalent products in March, up 3.5 per cent from March 2019, when ongoing government-imposed production cuts limited crude output in Alberta, according to a report released Wednesday by Statistics Canada. Over the past year, crude production has been slowly ramping up due…

Alberta to experience worst economic recession on record

Real GDP in Alberta will contract 6.8 per cent in 2020, making its economy the worst-hit province in the country this year

Alberta to experience worst economic recession on recordAlberta will have to brace for a historic economic decline this year caused by the COVID-19 crisis and the low oil price environment, says a report by the Conference Board of Canada. “The Great Lockdown has dramatically shifted the economic landscape around the world. But in Canada, the impact has been most severe in Alberta.…