Over the past decade, uncertainty has been constant in Canada's oil and gas industry, brought on in part by unknown investment outlooks, lack of market access, and a complex regulatory process. According to PwC Canada's 2019 Energy Visions report, there are two main factors that could catalyze change for the oil and gas industry: a national energy strategy as well as further technological innovation.
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Fuelled, Canada's leading energy equipment marketplace, announced an agreement with PricewaterhouseCoopers Inc., LIT, in its capacity as the court appointed Receiver of Trident Exploration. This agreement will allow Fuelled to act as the exclusive sales agent for Trident's surplus oil and gas equipment. Fuelled is representing the Receiver on the divestiture of approximately 250 pieces of production equipment located in Western Canada. "We look forward to working closely with the Receiver on this engagement while we continue to deliver an unparalleled customer experience to our online buyers" said Austin Fraser, VP of Fuelled. "Trident's equipment includes gas compression, separation, dehydration, refrigeration, MCC's and other gas processing equipment that we believe there is strong demand for from our customers domestically as well as in the US and Overseas"
After a prolonged period of oversupply and low prices, Canadian oil and gas producers are turning to technology to reduce production costs by 10% to 20%, according to PwC Canada's new report Energy Visions: Decade of disruption, launched today in Calgary at the Energy Visions Business Forum. Given the increasingly uncertain global context, focusing on technology puts oil and gas companies in a better position to manage costs and attract investments, address environmental issues, and shape the future of the industry.
Key drivers underpinning capital allocation, market alignments and operating characteristics of the global oil and gas industry are undergoing rapid changes - and creating greater uncertainty in the commodities market. PwC Canada's new report Energy Visions: Who's in Charge launched today in Calgary focuses on key actions the Canadian industry must take to achieve greater agility in this changing marketplace.
Canada's oil and energy industry remains positive about the future despite increasing market volatility
Despite drastically reduced commodity prices, a changing political climate, and the inability to access new markets for Canadian oil products Canada's oil and energy sector remains positive about its global position as it adapts to new market realities that depend on collaboration between industry, government, special interest groups, and the general public. Adaptability in a shifting landscape are the focus of PwC's annual report; Energy Visions: Customers, Carbon, and Costs, A New Business Model Now?