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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