Canada E&P Capex to Jump

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The Canadian Association of Petroleum Producers (Capp) is forecasting upstream oil and natural gas investment will hit $40 billion in 2023, surpassing pre-Covid-19 investment levels and marking an 11% increase over 2022. Conventional oil and gas capex for 2023 is forecast at $28.5 billion, while oil sands investment is pegged at $11.5 billion.

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