Canada's Oil Market Survives Wildfires, Expects Major Growth
Canada's Oil Market Survives Wildfires, Expects Major Growth
June 6, 2023--Researched by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--After losing an estimated 200,000 barrels per day (BBL/d) of oil amid an outbreak of wildfires, the provincial government of Alberta ended a state of emergency and energy services are returning to normal. With the fourth-largest oil reserves on the planet, Canada's oil-production sector remains undeterred.
Alberta declared a state of emergency on May 11 in response to growing wildfires, which have since spread to neighboring regions. Smoke is still visible in skies across North America, with fires and red-flag warnings popping up from the U.S. state of Washington to northern Michigan.
Companies featured: Crescent Point Energy Corporation (NYSE:CPG), Cenovus Energy Incorporated (NYSE:CVE) and TransMountain Corporation.
Subscribe Now!(All Fields Required)
Related Articles
Articles related to this company
- Cenovus Poised to Expand Canadian Oil Sands Production in 2024
- Oil Sands Producer Cenovus Energy Announces 2024 Budget
- Technip Reaps Gains from North American Offshore, LNG Projects
- Canada's Cenovus Maintains Capex Despite Upstream Hit Due to Wildfires
- Cenovus Sees Upstream Growth, Downstream Woes in Early 2023