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.
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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?