Natural Gas and Oil Industry Investing in Canada's Economic Recovery: CAPP forecasts an increase of more than $3 billion in planned upstream spending for 2021
Share this article Share this article CALGARY, AB, Jan. 13, 2021 /CNW/ - The Canadian Association of Petroleum Producers (CAPP) is forecasting a 14 per cent increase in upstream natural gas and oil investment in 2021. Capital spending in the sector is expected to be around $3.36 billion higher this year, reaching $27.3 billion, compared to an estimated total investment of $24 billion in 2020. The planned investment for 2021, while increasing from the lowest levels in more than a decade, would halt the dramatic decline seen since 2014, when investment sat at $81 billion. This year's forecast...
Source: newswire.ca