Enserva’s Fall 2024-2025 State of the Industry Report forecasts steady demand and investment growth in Canada’s oil and gas sector, supported by capital expenditure predictions and stability in the face of global challenges. Enserva also hosted an expert panel to discuss the report's findings, featuring insights from industry leaders and economists on trends shaping the sector into 2025.“Enserva has been a strong advocate for the responsible development of Canadian energy for over 40 years,” said Gurpreet Lail, President and CEO of Enserva. “This year’s report demonstrates steady demand and reinforces that the Canadian industry remains a leader on the international stage.”The report highlights a substantial increase in investment, projecting capital expenditure to exceed $40 billion in 2025 — marking the highest level in a decade and a significant jump from 2021. Enserva’s analysis also reflects stability across the sector, with opportunities for infrastructure expansion to enhance resource exports.Among the report's key findings:Sector-Wide Productivity Gains: The upstream oil and gas sector continues to lead in productivity, outpacing trends in other areas of the Canadian economy.Employment Growth: Employment has surged in the services sector, particularly between June 2023 and September 2024, reinforcing the industry's appeal.Commitment to Reclamation: Investments in reclamation and abandonment are increasing, demonstrating the sector’s commitment to sustainable practices.The report points to growing investments in carbon reduction, geothermal energy, critical minerals, and hydrogen infrastructure, with Western Canada’s service companies well-positioned to capitalize on these trends. As traditional energy production aligns with emerging clean technologies, Canada’s skilled workforce will play a crucial role in advancing decarbonization efforts.Enserva’s report also includes insights into drilling, fracking, reclamation, industry employment, and North American energy policies. The sector’s ongoing innovation and commitment to both economic growth and environmental stewardship, it says, will keep Canada’s energy industry at the forefront of global demand.Enserva is the voice of the Canadian energy services, supply and manufacturing sector, and its vital workforce.
Enserva’s Fall 2024-2025 State of the Industry Report forecasts steady demand and investment growth in Canada’s oil and gas sector, supported by capital expenditure predictions and stability in the face of global challenges. Enserva also hosted an expert panel to discuss the report's findings, featuring insights from industry leaders and economists on trends shaping the sector into 2025.“Enserva has been a strong advocate for the responsible development of Canadian energy for over 40 years,” said Gurpreet Lail, President and CEO of Enserva. “This year’s report demonstrates steady demand and reinforces that the Canadian industry remains a leader on the international stage.”The report highlights a substantial increase in investment, projecting capital expenditure to exceed $40 billion in 2025 — marking the highest level in a decade and a significant jump from 2021. Enserva’s analysis also reflects stability across the sector, with opportunities for infrastructure expansion to enhance resource exports.Among the report's key findings:Sector-Wide Productivity Gains: The upstream oil and gas sector continues to lead in productivity, outpacing trends in other areas of the Canadian economy.Employment Growth: Employment has surged in the services sector, particularly between June 2023 and September 2024, reinforcing the industry's appeal.Commitment to Reclamation: Investments in reclamation and abandonment are increasing, demonstrating the sector’s commitment to sustainable practices.The report points to growing investments in carbon reduction, geothermal energy, critical minerals, and hydrogen infrastructure, with Western Canada’s service companies well-positioned to capitalize on these trends. As traditional energy production aligns with emerging clean technologies, Canada’s skilled workforce will play a crucial role in advancing decarbonization efforts.Enserva’s report also includes insights into drilling, fracking, reclamation, industry employment, and North American energy policies. The sector’s ongoing innovation and commitment to both economic growth and environmental stewardship, it says, will keep Canada’s energy industry at the forefront of global demand.Enserva is the voice of the Canadian energy services, supply and manufacturing sector, and its vital workforce.
