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    Canadian Energy Firms Confident of Long-Term Growth

    Cenovus Energy plans to continue expanding its Foster Creek and Christina Lake projects in northern Alberta, as these two sites are still turning a profit even at current oil prices. (Todd Korol/Reuters)
    Cenovus Energy plans to continue expanding its Foster Creek and Christina Lake projects in northern Alberta, as these two sites are still turning a profit even at current oil prices.
    (Todd Korol/Reuters)

    Despite the recent flood of discouraging news about the price of oil and the energy market, Canadian oil and gas firms are taking the long view and remain positive about the future, reports an article in the Globe and Mail.

    The article cites the numerous low-cost assets held by many firms and their prudent fiscal policies as reasons for ongoing optimism. Companies including Cenovus Energy and Nalcor Energy have oil sands and offshore production facilities that remain profitable even in the ongoing market depression due to their relatively low per-barrel cost of production. As well, many terminal and tankage operators have fixed-fee contracts that are unaffected by market fluctuations, and are even seeing growth due to producers choosing to store rather than sell supplies at low prices.

    Click here to read the full article.

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