When most Canadians think of our oil and natural gas sector, we think of a pumpjack in a field in Alberta or Saskatchewan. But it’s more than that—so much more. Canada’s energy industry is the engine of our nation’s economy, providing jobs, reliable energy, while supporting our national security and sovereignty.
The industry encompasses thousands of kilometres of pipelines and hundreds of facilities, many of which stand as remarkable feats of engineering and human innovation. It is not just an energy sector—it’s also a cutting-edge technology sector. Our prolific resource base has the potential to generate revenue for healthcare, education, and other services for many decades, all supported by Canada’s world-class technical expertise, favourable geological conditions, and skilled construction workforce.
Businesses and investors can build on the foundation of Canada’s oil and natural gas sector. We can support major projects such as petrochemical plants, liquefied natural gas (LNG) facilities, and data centres, and emissions abatement projects like carbon capture, utilization and storage (CCUS) centres.
Sources: Government of Saskatchewan, https://publications.saskatchewan.ca/#/products/125838, CAPP Data Centre: The Economic Impact of Canadian Oil and Gas https://www.capp.ca/wp-content/uploads/2023/12/The-Economic-Impact-of-Canadian-Oil-and-Gas.pdf, Bloomberg
Crude oil alone was Saskatchewan’s number one export in 2024. Together, oil and natural gas generated more than $13 billion in exports, accounting for over a quarter of all goods sold internationally. With one in every four export dollars tied to oil and gas, and with strong global demand, the sector remains essential to sustaining and expanding the province’s economic strength.
Oil and Gas Builds Communities
Saskatchewan’s oil and gas industry supports vibrant communities and essential public services across the province. The sector creates opportunities for thousands of Saskatchewanians, and generates revenue that helps fund programs that benefit everyone:
- In fiscal year 2023-24, oil and natural gas royalty revenue accounted for 5% of the Government of Saskatchewan’s total revenue. These funds help fund essential provincial services—including healthcare, education, and social programs.
- In 2024, the industry contributed $300 million in municipal taxes, helping local governments deliver services like infrastructure, emergency response, and community development.
- The sector accounted for over 16,000 direct jobs (about 3% of all direct employment in the province), and an estimated 40,000 direct and indirect jobs in 2024, supporting families and communities the province.
Sources: Government of Saskatchewan, https://publications.saskatchewan.ca/#/products/125838, CAPP
Data Centre: The Economic Impact of Canadian Oil and Gas https://www.capp.ca/wp-content/uploads/2023/12/The-Economic-Impact-of-Canadian-Oil-and-Gas.pdf, Bloomberg
Building Indigenous Prosperity
The industry contributes meaningfully to economic reconciliation with Indigenous communities, organizations and businesses:
Sources: CAPP Data Centre: The Economic Impact of Canadian Oil and Gas https://www.capp.ca/wp-content/uploads/2023/12/The-Economic-Impact-of-Canadian-Oil-and-Gas.pdf
Continued Stability, Continued Success
Tax and investment incentives, combined with a stable royalty structure, contribute to Saskatchewan’s attractive investment climate.
Get the Facts
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