Despite the Canadian government’s efforts to curb carbon emissions and expand the adoption of renewable energy systems, the country’s crude oil production will only continue to grow in the next couple of decades, a report from the National Energy Board found.
Tag Archives: Oil & Gas Production
In southwest Saskatchewan , three rigs were working in close proximity to Shaunavon, and one was at Rapdan. In southeast Saskatchewan, three we working near Stoughton, one near Benson, and three more between Oungre, Torquay and the U.S. border.
The Petroleum Services Association of Canada (PSAC) Drilling Activity Forecast released on August 1st good news for Saskatchewan. The adjusted forecast shows a significant increase in the number of wells to be drilled from 1,940 to 2,794 an increase of 854 wells.
For more information on the Petroleum Services Association of Canada (PSAC), 2017 Drilling Activity Forecast go to: http://www.psac.ca/drilling-activity-forecast-jul-2017-update/
The energy sector recovery boosted the Canadian economy in May, giving the nation the fastest level of growth since October 2000, according to a new report by The Canadian Press. Statistics Canada had predicted a jump in real gross domestic product by 0.2 percent in May, but the economy grew by 0.6 percent instead. The high growth rate ups the chances that the Bank of Canada will increase interest rates in September. The Bank of Canada increased the principal interest rate to 0.75 percent earlier this month. The jump represented the first such…
via OilPrice.com Daily News Update http://ift.tt/2v9r1bH