A major Alberta oil and gas company whose roots date nearly back to the establishment of Canada as a country is moving its head office to the United States and changing its name as the province’s energy sector struggles to retain investment.
The relocation means Encana Corp. will now be based south of the border. It comes after the departure of foreign oil and gas companies from Canada, with Royal Dutch Shell, ConocoPhillips and Devon Energy Corp. selling their Canadian assets or scaling back investments as a crunch in pipeline space crimps prices.
Encana’s move on Thursday compounded an already bitter political debate between Alberta and Ottawa. The Liberal Party was returned to government last week with a minority after an election in which anger over environmental policies, including a carbon tax, and pipeline delays left the Liberals with no seats in Alberta.
Premier Jason Kenney accused the government of Prime Minister Justin Trudeau of scaring away investment by limiting the industry’s ability to export its products.
“It’s not just about Encana,” Mr. Kenney told The Globe and Mail on Thursday. “It’s about the broader decline of the Canadian energy industry, which I think is a deliberate policy of the Trudeau government.”