This industry profile provides a five-year forecast for Canada’s Mining, Oil and Gas Support Activities Industry.
Canada’s Mining, Oil, and Gas Support Activities Industry: Industrial Profile Spring 2016
Canada’s Mining, Oil, and Gas Support Activities Industry: Industrial Profile Spring 2016
Industry Economic Analysis
$660.00
- Investment—Low oil prices will continue to deter investments in oil projects, leading to large declines in demand for contract drilling and field support activities.
- Natural Gas Demand—Growing demand for natural gas will continue to open up export opportunities for liquefied natural gas.
- Profits—Profitability in the oil and gas support activities industry disappeared in 2015, with financial losses totalling more than $700 million. It will take until 2017 for the industry to return to profitability.
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