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 prices and an uncertain global outlook. It says it has achieved $375 million in savings since launching the cost-cutting program.

In February, Teck cancelled its proposed $20-billion Frontier oilsands mining project, which had potential capacity of 260,000 barrels of oil a day. CEO Don Lindsay said at the time there was “no constructive path forward” given Canada’s impasse over Indigenous rights, climate change and resource development.

It remains a big player in the oilsands, however, thanks to its 21.3-per-cent ownership of the Fort Hills oilsands mine operated by partner Suncor Energy Inc.

In 2014, CAPP had 49 producer members and it currently has 53, it said. Producer members pay fees based on their oil and gas production.

The organization added it has a combined total of about 125 producer and associate members.

On its website, CAPP says membership benefits include representation in lobbying government, as well as networking opportunities and access to research, seminars, workshops and conferences.

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