PUBLICATION
Global Business Reports
Canada Oil & Gas 2014
April 08, 2014
The media may be worried about its economic growth, public opinion may be against Alberta’s oil sands, and the market may be bearish, but the undeniable fact is that Canada’s oil and gas industry remains among the world’s leaders. Whether operating from within Canada’s borders or utilizing Toronto’s status as a preeminent hub for global oil and gas finance, Canadian exploration and production companies drive the global industry in a way that few other nationalities can match. Challenges remain, yet Canada is adapting and, in some cases, thriving.
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"The energy transition can only be funded by big oil, as they are the only players who can balance the low returns of renewables projects with their high earning fossil fuel projects."
"Every oilfield declines without continued investment, so new owners must push hard to restore and increase output. This means significant opportunities for contractors like us in the form of asset upgrades and new projects."
Petromar speaks of the outlook for Angola’s oil and gas service industry for the next two years.
"While in other markets, SPIE often primarily provides technical assistance and workforce supply, our Nigerian operations have evolved into a fully integrated service provider."
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Gabon’s maturing fields and decreasing production levels, together with the low price regime over the past five years, have brought the country’s oil industry to a turning point.
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