Canada has secured the surrender of the last remaining permits for oil and gas development off its Pacific Coast, the federal natural resources minister said on Wednesday, after Chevron Canada voluntarily relinquished 23 permits this month. Energy and Natural Resources Minister Jonathan Wilkinson said the relinquishment of the permits marked an important milestone in permanently protecting the ecologically rich waters of Canada's west coast. While there has been a federal moratorium on oil and gas exploration off the Pacific coast since 1972, permits issued before that date were still valid.
The oilfield services market is experiencing significant growth attributed to the escalating demand for energy and increase in oil & gas exploration activities. Exploration activities have significantly boosted the demand for oilfield services to minimize investment losses and increase profits for respective companies. Adapting to fluctuating oil prices, aligning with environmental policies, and embracing innovative solutions will be crucial for companies operating in the oilfield services marke