Global Petroleum Show underway in Calgary amid dropping oil prices

WATCH: The Canadian Association of Petroleum Producers has released its annual June forecast, and the numbers aren’t looking great. David Boushy gets reaction from the Global Petroleum Show.

CALGARY – Canada’s largest petroleum show gets underway at Stampede Park on Tuesday.

The Global Petroleum Show is an annual event which showcases the latest developments in oilfield technology.

Every year, over 50,000 attendees and 20,000 companies from 100 countries attend the three-day event.

“We take up every square inch available to us at Stampede Park,” says Spokesman Wes Scott. “In fact, we have to build at 70,000 square foot structure just to get everyone in.”

The 2015 show is being held amid dropping oil prices; something that Scott initially thought might impact attendance. However, he says their attendance should be “on par” with what they recorded in 2014.

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“What we’re seeing is renewed interest in companies getting back to work – getting back to business.”

On Monday, G7 leaders announced they had agreed to phase out the use of fossil fuels by the end of the century.

“I think it’s certainly going to cause a lot of conversation here over the next three days,” admitted Scott.

The theme of the 2015 event is “Reimagine. Reinvent. Reposition.”

The Global Petroleum Show runs until June 11th.

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