Suncor cuts $1.5B from budget to cope with low oil prices, virus impact
Cuts follow billions in spending reductions by other major oil sands players.
Canadian Natural cuts $1B from budget due to low oil price
Oil sands producer will ramp up capital spending if prices improve and stabilize, and there’s clarity on market access.
Encana to cut capital budget by $600M
Also cuts shareholder dividend by about 78%.
Penn West cuts 400 jobs, mostly in Calgary
To cut a further $75 million from capital spending budget; suspends dividend.
Encana cuts capital spending plan by US$700M
Will continue to focus 80% of its capital investment on four main assets in Alberta, BC and Texas.