Canada gives struggling oil sector C$1.6 billion boost

Energy - Reuters - Key Takeaway: *Canada's oil and gas industry needs help from the public sector*.


The Canadian government said on Tuesday that it would spend C$1.6 billion ($1.19 billion), mostly through loans, to assist the country’s oil and gas industry, which has struggled to move energy to U.S. markets due to full pipelines.


Natural Resources Minister Amarjeet Sohi said in Edmonton, Alberta, that the aid package would include C$1 billion for energy exporters to invest in new technologies, boost working capital or find new markets.

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