Canadian oil and gas companies slash capital spending by more than half, BoC survey finds

In its business outlook survey released Monday, the Bank of Canada reports that energy producers are setting aside just 40 per cent of estimated cash flow for capital expenditures, compared with an average above 100 per cent in the years prior to the pandemic.

Crude and gas prices have soared over the past year, but Canadian energy companies have not been using that revenue bonanza to invest in new projects or sites to the same extent as during previous booms. Instead they are using cash flows to shore up balance sheets and reward shareholders. The curtailment in capital spending follows last year’s decline that saw the sector’s capital expenditures drop to 60 per cent of cash flow.Article contentLook at that sharp drop in Canadian oil and gas capital expenditures....

Trudeau choked oil and gas industry. If he is not removed soon, we are 3 Rd world

I own O&G shares and I want dividends from them, not production growth. Groper Trudeau and Steven “The Human Fly” Guillbeault have clearly signalled that oil companies are redundant, so why would they invest any $ in new production?

Now's the time to make bank. The coming severe recession will reduce the need for O&G.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

1Password CEO Jeff Shiner on business security, Lego and the risky online habit that annoys him most1Password CEO Jeff Shiner spoke to the Star about tech’s choppy waters, whether the company will ever go public, and how he’d respond if someone successfully breached his company’s security: The Star did an Advertisbent and is passing it off as an article. I keep forgetting this is a Toronto company. I’ve used their software for years and I highly recommend it to keeps passwords strong, secure, and synchronized across your devices, your family, and your teams.
Источник: TorontoStar - 🏆 60. / 55 Прочитайте больше »

Women in Canadian tech urging companies to pay for U.S. staff to travel for abortionsAt least 50 signatories in an open letter say they are ‘devastated’ for those impacted by the U.S. Supreme Court recently overturning Roe v. Wade Why would they come here when they can pick a state in their own country? 👇 Capitalist scum strike again. “Kill your baby and continue to make me money!” They should put condoms in the bathrooms at the job sites
Источник: globeandmail - 🏆 5. / 92 Прочитайте больше »

Women in Canadian tech urging companies to pay for U.S. staff to travel for abortionsA group of prominent women in Canada's tech sector are calling for employers to pay for U.S. staff to travel to get abortions. Oh my goodness. Where have our priorities gone to?!
Источник: CTVNews - 🏆 1. / 99 Прочитайте больше »