Financially troubled oil and gas producers are trying to avoid bankruptcy As a growing number of oilpatch companies are being pushed toward bankruptcy across North America, a number of Canadian players are working with creditors and making moves that experts say are aimed at avoiding such a fate. Bow River Energy, Cequence Energy and Delphi […]
(St. John’s, NL– June 29, 2020) AltoMaxx, a local UAV (unmanned aerial vehicle) training centre and service provider, was on the cusp of exponential growth when COVID-19 and the offshore industry crisis created uncertainty with the company’s plans for expansion. AltoMaxx began operations in 2018 with its head office in St. John’s, Newfoundland and Labrador, […]
Alberta’s public inquiry into whether foreign money is bankrolling anti-oil protests in Canada is going into overtime. Energy Minister Sonya Savage says the initial findings from the inquiry’s commissioner, Steve Allan, show more work is needed to complete the final report. So, Savage says the government is extending the deadline for the report to Oct. […]
Letters sent to federal government ministers as Canadian province reels from impact of Covid-19 pandemic and oil price collapse Proponents of the struggling oil and gas sector in Newfoundland & Labrador, Canada are pressing the federal government to implement changes to the tax regime to support ailing offshore activities. More than 2000 letters of support […]
(St. John’s, NL – June 24, 2020) Oceans Ltd., a locally owned company with offices in St. John’s, Newfoundland and Labrador and Halifax, Nova Scotia, has been struck particularly hard by the recent economic crisis. The crash in global oil prices, coupled with the COVID-19 pandemic, has created significant financial challenges for the company which […]
(St. John’s, NL June 23, 2020) – Canadians have sent more than 2,000 letters of support asking the federal government to invest in Newfoundland and Labrador’s offshore oil and natural gas industry. The letters from supporters of the offshore were directed to Members of Parliament as well as Minister of Natural Resources Seamus O’Regan, Minister […]
(St. John’s, NL – June 22, 2020) The Luxus Boutique Hotel, Lounge & Café, a 5-star property located in the heart of downtown St. John’s, has attributed much of its success to the offshore oil & gas industry. Established in 2015, the thriving local economy was conducive to full occupancy and a bustling lounge & […]
(St. John’s, NL, Canada – June 19, 2020) K&D Pratt has expressed grave concern for the economic future of the province without a solid investment from the Government of Canada in Newfoundland and Labrador’s offshore industry. The company fears that many of the supply and drilling companies currently doing business in Newfoundland and Labrador have […]
(St. John’s, NL – June 18, 2020) Noia is embracing the recent commitment of the Government of Newfoundland and Labrador to achieve net zero carbon emissions by 2050. The ongoing efforts of Noia’s members and the industry to reduce its carbon footprint, transition to renewable energy mixes, and protect the environment, complement this commitment. As […]
The aerospace and offshore oil & gas industries have a long history of mutual support in Newfoundland and Labrador. One prominent example is St. John’s based PAL Aerospace, which has grown alongside the offshore oil and gas industry and become a global leader in the aerospace and defence sector. PAL Aerospace’s involvement with the oil […]
