Wildfires in Canada lead to significant oil production cuts

Wildfires in Western Canada have forced the evacuation of oil production facilities in Northern Alberta. According to Bloomberg, the blasting in the Cold Lake area threatens national enterprises and forces them to reduce fuel output in the country.

The nation's largest oil and gas producer, Canadian Natural Resources Ltd., evacuated personnel from the JackFish 1 field on Saturday due to spreading fires. The company has suspended bitumen extraction, resulting in an output cut of 35,000 barrels per day.

MEG Energy Corp. has also responded to the emergency situation. Company CEO Darlene Gates expressed the firm’s readiness to assist those affected by the fires. In her view, however, raw material production should continue at limited capacity. Due to power supply disruptions, the corporation postponed its planned production increase of 70,000 barrels per day.