Canadian oil and gas producers, service firms and financers predict a “moderate growth” year in 2024 as new overseas export outlets surface on the Pacific coast of British Columbia (BC), according to ATB Capital Markets Inc.

Canada Export Capacity

The optimism emerged in a survey held from Sept. 18 to Oct. 2 of 26 producers, 30 oilfield service operations and 29 institutional investors, said ATB, an arm of an Alberta government-owned bank.

ATB predicted its industry survey results point to corporate budgets increasing by 10% or more and added production to catch up with the new export services.

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The survey results indicated that...