Teck Resources exits energy industry group CAPP, citing cost-cutting

Teck Resources Ltd. is leaving the Canadian Association of Petroleum Producers, an industry organization whose members represent about 80 per cent of Canada's oil and gas production. The move was made as part of a cost-cutting drive, Teck spokesman Chris Stannell said in an email, noting the company's 2019 CAPP membership cost about $135,000. Teck is targeting $1 billion in cost reductions for 2020 - double the figure the resources company proposed in October as it deals with declining commodity