Saskatchewan announces relief measures for oil industry
A crude oil pump during a sunset. (Pixabay.com)
The Government of Saskatchewan has announced provincial measures aimed at helping the oil and gas industry. Energy and Resources Minister Bronwyn Eyre says the energy sector is the second largest contributor to the provincial GDP and employs more than 34,000 people.
She says protecting jobs is a major priority.
“These relief measures will address certain immediate liquidity and administrative challenges to help companies focus on retaining as many workers, and as much production, as possible.”
- Extending series filing and other deadlines to help the oil and gas sector stabilize operations. The extension does not impact health and environmental safety.
- Extending mineral rights due to expire this year by one more year.
- Reducing the industry portion of the Oil and Gas Administrative Levy by 50 per cent this fiscal year and delaying invoicing of the remaining balance until October 1. It will provide the sector with $11.4 million to address liquidity.
The Government of Saskatchewan has reached a draft agreement with the federal government on methane reduction regulations in the upstream oil and gas industry. The province says the agreement has been in the works for several months and the industry will be regulated by Saskatchewan.