8,494 Active Recruiters     Over 2 Million Candidates Globally

Advanced
  1. Keep me logged in
  2. forgot password
cancel

Checkout Jobs Basket (0)

You can checkout a maximum of 150 jobs.

Signup Better for Candidates

  • Create a free virtual CV and let recruiters find you
  • Automatically have your profile matched to suitable Oil & Gas positions
  • Link to your profile using it as a free online CV
  • Store all your employment documents to your profile for easy sending
  • Always receive feedback on positions applied for

Signup Better for Recruiters

  • Suitable candidates automatically matched to your position
  • View candidate profiles for free
  • No more waiting for candidates to respond to job advertisements
  • Only ever pay when you match a candidate to a position
  • No more cold calling and sorting through out dated CVs

Oil Sands Capital Spending Set for First Gain Since 2014 Crash

Published in Oil Industry News on Thursday, 6 February 2020


Graphic for News Item: Oil Sands Capital Spending Set for First Gain Since 2014 Crash

Investment in Canada’s oil-sands is forecast to grow for the first time since prices crashed in 2014.

Capital spending in the world’s third-largest crude reserves is projected to rise 8.4% to C$11.6 billion ($8.8 billion) this year, according to the Canadian Association of Petroleum Producers, the industry’s main lobbying group.

The forecast signals a tentative return of optimism to the oil sands, where pipeline bottlenecks and environmental opposition made expansion difficult even after oil prices rebounded in recent years. CAPP attributes the expected gain to tax cuts implemented by Alberta’s new government and an easing of the province’s output limits.

“The increase in capital investment is a very positive sign for the upstream sector, and there is a lot more work to be done to keep this momentum,” CAPP Chief Executive Officer Tim McMillan said in a statement. That work includes Alberta’s plans to reduce red tape, as well as reforms to municipal taxes, he said.

Even with this year’s increase, the industry is still a long way from its headiest days. The projected oil-sands spending for 2020 is about a third of the peak of C$33.9 billion in 2014, according to CAPP figures.

Expenditures for Canada’s oil and natural gas sector as a whole may increase 5.4% to C$37 billion. Outside the oil sands, spending is projected to rise 4.1% to C$25.4 billion.

The additional C$2 billion in capital spending this year will create or sustain about 11,800 direct and indirect jobs across Canada, the organization projected. About 8,100 of those jobs will be in Alberta, which has struggled with elevated unemployment since the 2014 price crash.

Source: www.worldoil.com

Please leave comments and feedback below





Tags

Canadian Oil and Gas, Alaskan Oil and Gas, Husky Oil and Gas, Oil and Gas News








Oil and Gas News Archive


Latest Oil & Gas News







Featured Companies

  • View All JobsOMPA

    Offshore Marine People & Academy (OMPA) is a global provider of personnel and training to the renewables, oil & gas, telecommunications and marine industries.

    With over 15 years' industry experience, we work with candidates to match them to the right roles and equip them with the skills and knowledge needed to succeed. Our job is to exceed your expectations.

    Visit us online: offshorempa.com

  • View All JobsChronos Oil and Gas

    Chronos Oil and Gas is one of the fastest growing and best placed recruitment agencies in the sector.

    With over 300,000 candidates on our database and an international team of specialist recruiters we work with clients to staff major projects around the world.

    Register your CV at www.chronosoilandgas.com

  • View All JobsNatural Resources

    Natural Resources is a UK based recruitment company providing personnel of all disciplines and nationalities worldwide.

    We represent clients and candidates at all levels who operate globally within oil & gas, renewables, nuclear, power, mining, marine, drilling, construction and petrochemicals. Our client base includes energy and construction.

    Visit Natural Resources at natural-resources.com