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Oil and gas investment in Canada to hit $40 billion in 2023, industry group says | Globalnews.ca

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Oil and gas investment in Canada to hit $40 billion in 2023, industry group says

says it expects investment in oil and natural gas production in this country to hit $40 billion this year.

The industry group says that’s 11 per cent higher than last year and also surpasses pre-COVID-19 pandemic levels. Upstream oil and natural gas investment in Canada reached a low of $22 billion in 2020, as prices collapsed due to the pandemic.CAPP says conventional oil and natural gas capital investment for 2023 is forecast at $28.5 billion, while oilsands investment is expected to reach $11.5 billion.

 

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Oil and gas investment in Canada to hit $40-billion in 2023, industry group saysThe Canadian Association of Petroleum Producers says the forecast is 11% higher than last year and also surpasses pre-COVID-19 pandemic levels Wow did they not get the memo that Mr Trudeau is deliberately destroying the Canadian oil and gas industry And they care about the environment...right? The almighty dollar rules! Bring it on. That's supply the world with oil and gas
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