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ARTICLE · 29 APRIL 2020

Fighting On Two Fronts: Arrival Of Canadian Energy Sector Relief

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Both the federal and provincial governments have provided targeted support for the energy sector in response to the COVID-19 crisis and the crash of energy commodity prices.

CanadaCoronavirus (COVID-19)
Paula Olexiuk
Paula Olexiuk
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Both the federal and provincial governments have provided targeted support for the energy sector in response to the COVID-19 crisis and the crash of energy commodity prices. On April 17, 2020, the federal government announced new targeted actions totalling more than $2 billion, with dedicated funding for the clean up of orphan wells in Western Canada and the creation of an emissions reduction fund, as well as expanded credit support for small and medium-sized energy companies through the Business Development Bank of Canada (BDC) and Export Development Canada (EDC). The Alberta government is also implementing similar targeted relief measures to support Alberta's energy sector, including certain levy and reporting relief.

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