Government of Canada Announces Support for Workers in Canada’s Oil and Gas Sector

Minister of Natural Resources Amarjeet Sohi together with Minister of International Trade Diversification Jim Carr have announced more than C$1.6 billion to support jobs and workers in Canada’s oil and gas sector as Canada seeks to diversify export markets for its resources beyond the United States. The government said in a statement that these measures will support workers and their families, foster competitiveness, and improve the long-term environmental performance of the industry. They include: C$1 billion in commercial financial support from Export Development Canada to be made available to exporters of all sizes to assist companies looking to invest in innovative technologies, address working capital needs, or explore new markets; a new C$500-million Energy Diversification commercial financing envelope over three years from the Business Development Bank of Canada to help higher risk but viable oil and gas small business enterprises weather the current market uncertainty; a C$50-million investment through Natural Resources Canada’s Clean Growth Program in oil and gas projects; and, C$100 million through Innovation, Science and Economic Development Canada’s Strategic Innovation Fund in energy and economic diversification-related projects.

Use 'AND' or 'OR' to refine your search.

Use quotes " " to get exact matches or remove them to get more results.