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