Canadian Industrial Profile
Mining, Oil, and Gas Support Activities
This industry profile provides a five-year forecast for Canada’s mining, oil, and gas support activities industry.
Social Licence—Development of new resource-related infrastructure still faces considerable opposition due to environmental concerns and issues related to Indigenous treaty rights. This has weighed on industry investment in recent years.
Transportation Issues—A lack of new pipeline capacity exiting Western Canada continues to result in a significant discount on Canadian crude prices, hurting revenues for oil and gas producers, with spinoff impacts for support services.
Prices—Although still well below pre-financial-crisis levels, some key commodity prices have increased over the past year, something that is supportive of new exploration and development activity.