Oil and gas spending expected to increase by $2B in 2020: industry group
The Canadian Association of Petroleum Producers says it expects about six per cent more will be invested in Canadian upstream energy this year than in 2019, taking to total to about $37 billion, which is about half as much as in 2014 when investment levels reached $81 billion.
It says the “main driver” for the spending jump is an improved economic environment due to provincial government policies, along with growing optimism that new export pipeline capacity will be built.