{"id":3996,"date":"2023-03-02T14:41:06","date_gmt":"2023-03-02T14:41:06","guid":{"rendered":"http:\/\/roydadnaft.ir\/English\/?p=3996"},"modified":"2023-03-02T14:41:07","modified_gmt":"2023-03-02T14:41:07","slug":"canadian-producers-predict-c40-bln-2023-upstream-oil-and-gas-investment","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/3996\/","title":{"rendered":"Canadian producers predict C$40 bln 2023 upstream oil and gas investment"},"content":{"rendered":"<div class=\"entry-content\" itemprop=\"description\">\n<p>The Canadian Association of Petroleum Producers (CAPP) said on Wednesday it expects oil and natural gas investment in upstream production will reach C$40 billion ($29.4 billion) in 2023, surpassing pre-COVID levels.<\/p>\n\n\n\n<p>The total investment forecast is C$4 billion, or 11%, more in additional spending across Canada&#8217;s economy than the previous year, mainly directed towards environmental protection and emission reduction technologies.<\/p>\n\n\n\n<p>&#8220;Investment into Canada&#8217;s oil and natural gas industry circulates back into the economy, benefiting all Canadians,&#8221; said Lisa Baiton, CAPP President and CEO.<\/p>\n\n\n\n<p>Out of the total investment, conventional oil and natural gas capital investment for 2023 is forecast at C$28.5 billion, while oil sands investment is expected to reach C$11.5 billion, CAPP said in a statement.<\/p>\n\n\n\n<p>&#8220;The year 2023 may be one of the most pivotal moments in time for Canada&#8217;s oil and natural gas industry,&#8221; Baiton said.<\/p>\n\n\n\n<p>The additional spending on emission reduction technologies will include advancing the development of carbon capture utilization and storage (CCUS), the statement added.<\/p>\n\n\n\n<p>In Alberta, investment is expected to reach C$28 billion in 2023, representing about 70% of all upstream oil and natural gas investment nationally, CAPP said.<\/p>\n\n\n\n<p>($1 = 1.3602 Canadian dollars)<\/p>\n<div class=\"post-date no-social-btn post-updated\">Updated on<time class=\"updated dt-updated\" itemprop=\"dateModified\" datetime=\"2023-03-02T14:41:07+00:00\"> 2 March 2023<\/time><\/div><\/div>","protected":false},"excerpt":{"rendered":"The Canadian Association of Petroleum Producers (CAPP) said on Wednesday it expects oil and natural gas investment in upstream production will reach C$40 billion ($29.4 billion) in 2023, surpassing pre-COVID levels. The total investment forecast is C$4 billion, or 11%, more in additional spending across Canada&#8217;s economy than the previous year, mainly directed towards environmental [&hellip;]","protected":false},"author":1,"featured_media":3997,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17,36,19,16,35],"tags":[],"services":[],"class_list":["post-3996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-lastnews","category-news","category-oil","category-topnews"],"_links":{"self":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/3996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/comments?post=3996"}],"version-history":[{"count":0,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/3996\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media\/3997"}],"wp:attachment":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media?parent=3996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/categories?post=3996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/tags?post=3996"},{"taxonomy":"services","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/services?post=3996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}