Monday, May 12, 2025

Canada Oil Industry Gets $173 Million Loan to Clean Up Abandoned Wells

From Reuters The oil industry in Canada’s resource-rich Alberta will be on the hook for a C$235 million ($172.7 million) government loan to clean up a rising number of oil wells abandoned by owners who have gone bankrupt, the province said on Thursday. The loan, repayable over 10 years, will go to the government-run, industry-funded Orphan Well Association (OWA), which