The first payments from a $73-billion federal wage subsidy program will flow by the end of the first week of May, acting as a buttress against the economic shock from COVID-19.
Husky cancels plan to sell off network of retail gasoline stationsOil and gas prices continue to move downward despite moves from OPEC+ and others to curtail supply.
Canadian oil wells will continue to be shut down amid weak global oil prices despite an agreement to limit production struck by OPEC and other major producers on the weekend, producers say.
“Oil markets are poised to get worse before they get better, ushering in a new era for petroleum,” U.S.-based Citi Bank said in a recent note to its clients.
The global COVID-19 pandemic is spelling trouble for Newfoundland and Labrador's oil and gas industry, adding to existing economic challenges in the cash-strapped province.
