Foreign majors leaving Canada’s oil and gas sector

Low oil and gas prices have spurred an exodus on foreign oil companies from Canada’s energy sector over the last year. On Thursday South Africa’s Sasol Ltd became the latest international energy firm to say it plans to divest Canadian assets. The departures have raised doubts over future development prospects of the world’s third largest crude reserves and stoked criticism of federal and provincial environmental policies that are stricter than those of the United States.

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