2020 has been a rough ride for Alberta’s oil and gas sector, and although the year is coming to an end, the upheaval isn’t. Layoffs and mergers are increasingly becoming a new reality, with major players scrambling for ways to cut costs.
The year began with the Alberta government projecting $50 billion in revenue, average oil prices of US$58 per barrel, a 15 per cent increase in returns from the natural resources sector in the next two years and balanced books by 2023.
Then everything changed.
