Yesterday, we released our State of the Industry forecast report prepared by Garrison Strategy at our breakfast and panel discussion event. This report provides our members across the service, supply, and manufacturing sector with insights, trends, and a comprehensive outlook for the industry to better position themselves for 2024.
Click here to purchase the full report, free for all members. For your free download code, please login to your membership account and copy the coupon code from the main membership webpage.
“This report builds off the Spring 2023 State of the Industry Report and demonstrates that even though we are living in a dynamic time, global oil and gas demand continues to increase and the Canadian industry is still poised to play a large role on the international stage” – Gurpreet Lail.
The panel discussion was hosted by Enserva President and CEO Gurpreet Lail, alongside Ben Brunnen, Partner at Garrison Strategy; Catherine Rothrock, Chief Economist for the Government of Alberta; Daniela Trnka, Investor Relations Consultant; and Rob Roach, Deputy Chief Economist at ATB Financial.
Overall, the report finds the outlook for Canadian oil and gas to be favourable for 2024, with prices expected to remain strong, demand expected to be robust, export capacity expected to grow, and investment and drilling activity expected to increase. Simultaneously, the report is cognizant of potential risk factors on the downside including government policy, such as the proposed oil and gas emissions cap introduced by the federal government earlier this month, continued labour shortages, and inflation. Upside risks include Geopolitical disruption, and OPEC+ production quotas.
Some highlights from the report:
- Capital investment in the industry is higher than predicted and is expected to rise in 2024
- Industry inflation is on the decline after reaching a peak in mid-2022
- Fast-growing countries in Southeast Asia and the ongoing war in Ukraine highlight the importance of energy security on a global scale.
- The Canadian energy sector is positioned to take advantage of the evolving energy mix, thanks to the country’s ability to produce alternative energy forms and companies increasing interest in funding these projects.
Click here to purchase the full report, free for all members. For your free download code, please login to your membership account and copy the coupon code from the main membership webpage.
