Oil & Gas
Province has agreed to invest about $1.5 billion as equity in the pipeline.
Report says that won’t likely slow overall investment; fossil fuel players weren’t putting much money into it anyway.
The company is applying for a five-year extension to its environmental certificate which expires in October.
Cuts follow billions in spending reductions by other major oil sands players.
Will also cut CEO and other executive salaries and board members have agreed to cut their fees.
Anticipating a revised 2020 capital budget of between $1.2 billion and $1.4 billion.
Drilling will be reduced even more than usual: 31% decline forecast for average working rig count in Canada for the rest of 2020.
Clearing a path through US states along the pipeline’s 1,930-kilometre route to begin soon.
Now plans up to $1 billion this year, down from earlier plans for between $1.3 billion and $1.5 billion.
The turmoil is already affecting Canadian companies and consumers.
He cites demand for fossil fuels, which is expected to remain strong for many years.
Alberta premier says province’s ability to continue contributing to federal taxes is now at risk.
Stalled air travel and manufacturing all but stopped in China, sapping demand for fuel following plunging crude prices.
Respondents are split on whether the Coastal GasLink pipeline project should be stopped permanently or paused temporarily to negotiate further with Indigenous leaders.
The federal government is to blame for a significant drop in investment across 10 of the 15 major sectors of the Canadian economy.