Industry

Canada's oilfield services sector is in for “an immense amount of pain'' over at least the next year thanks to low North American oil and gas exploration activity amid a worldwide glut of cheap crude, according to a report from CIBC.Drilling and well completion companies stand to suffer the most as producers will be reluctant to reverse cuts in spending and production linked to the COVID-19 pandemic and its affect on fuel demand, the analysts warn.“There is no way to sugarcoat it.

Canada's national environment agenda is the latest thing to be upended by the COVID-19 pandemic, as plans for both beefing up national climate targets and banning some plastics are likely to be delayed.Environment Minister Jonathan Wilkinson told The Canadian Press this week that the government remains firmly committed to its environmental promises, which were a key part of the Liberal 2019 re-election campaign.