Archive for January 18th, 2017

Modest recovery in the oil sands

Posted January 18, 2017 by Blog AdministratorLabour Market Information, Labour News, PetroLMI News

The past two years were among the most difficult for Canada’s oil sands sector. Low oil prices, cost-cutting and restructuring resulted in a loss of approximately 2,400 direct jobs and thousands more indirect jobs. Added to all of that, was the Fort McMurray wildfires, which brought many operations to a temporary standstill.

With the worst of the downturn thought to be over, the oil and gas industry is cautiously optimistic. A modest recovery of about 3,450 net new jobs in oil sands construction, maintenance and operations is expected by 2020. Continue reading