The struggles faced by Canadians as aftermath of the blow to the oil and gas industry are evident from the one side of the country to the next. However, it is no surprise that Alberta, Canada’s oil and gas capital, has been victim to some of the roughest recoil from the industry-wide crash and economic downturn.
In the center of these setbacks, layoffs, and now restructuring, is the city of Calgary. Home to the head offices of many of Alberta and Western Canada’s oil and gas big shots, the last few years have been tough on the city and the residents, many of whom are or were employed in oil and gas related positions.
With 2017 already winding down, it is time to take a look at what the new year may hold for this city’s largest industry.
Will the Slump Continue?
Not only is the oil and gas industry in Alberta struggling to regain growth after the 2016 downturn, but the overall economy of the province also remains in a weaker state than is desired.
For the first time in a few years, there are positive predictions regarding the economies of Alberta’s major cities, with Calgary preparing for an anticipated 2.3% growth, leading to the creation of approximately 10,000 jobs in 2018, according to the Conference Board of Canada.
This news can only be seen as positive for the oil and gas industry, which remains one of the cities largest industries.
In terms of industry specific predictions, there seems to be hope on the horizon. It is believed that 2018 will bring with it the stabilization of the price of oil, which will help many companies get back on track with longer term goals and growth.
Companies to Look For
Calgary is home to many oil and gas industry-leading companies. With the expected rise in the industry and the economy, these companies will no doubt be preparing to increase production, improve equipment, and introduce new processes. In short, this means they will be hiring.
Some of the big name oil and gas companies to look for in the new year include:
- Canadian Natural Resources (CNRL)
- Imperial Oil
- Suncor Energy
- Enbridge Inc.
- Tourmaline Oil Corp
These are just some of the industry leaders that anyone in Calgary, or Alberta, looking for potential employment in the oil and gas industry should look to in 2018.
While the oil and gas industry is not set to boom in 2018, it is anticipated to stabilize, after the inconsistencies of the last few years. Along with this stabilization comes the beginning of economic regrowth.
This growth will create jobs in Calgary as well as the rest of Alberta, providing hope to those currently struggling to find work due to the downturn, with many of these new jobs more than likely leading to some of the industry leading companies that call Calgary home.