The Canadian Association of Petroleum Producers (CAPP) has released a new report, Indigenous Engagement and ESG, its second in a series outlining environment, social and governance (ESG) performance in Canada’s upstream natural gas and oil industry. The report highlights many examples of how Indigenous peoples and the upstream oil and natural gas sector are finding […]
VERONA — Exxon Mobil Corp remains focused on hydrocarbons and plans to press ahead with a $30 billion liquefied natural gas project in Mozambique, a top executive said on Thursday. “We’ve been in hydrocarbons for over 130 years… it’s the core part of our business and it will be for a long time,” Exxon Senior […]
OSLO (Bloomberg) –Equinor ASA is boosting natural gas exports to ease Europe’s supply crunch, sacrificing some oil production in the process. The Norwegian giant has halted the re-injection of gas that had been used to boost oil output at the Gina Krog field, and will export the fuel instead, Equinor Chief Executive Officer Anders Opedal […]
Deal marks state-owned energy company’s entry into Canada’s offshore sector In another signal that Newfoundland and Labrador’s oil and gas industry continues to rebound from a pandemic-induced slump, there’s news this week that a new player, one with worldwide influence in the liquefied natural gas industry, has entered the offshore oil sector. State-owned Qatar Energy [&he
Farm-in marks the Qatari giant’s entry into offshore Canada State-owned giant QatarEnergy has signed a deal with US supermajor ExxonMobil to come on board a key exploration licence offshore the Newfoundland & Labrador in Canada. QatarEnergy said that, under the terms of the agreement, it will hold a 40% participating interest in Block EL 1165A, […]
There’s a huge potential risk in being a first mover CALGARY — Canada’s five largest oilsands companies pledged Thursday to cut roughly 97 per cent of their current total emissions with the goal of reaching a net-zero emissions target by 2050, with help from both the federal and provincial governments. A group called the Oil […]
Results of the 2021 Independent Resource Assessment show a potential of 21.9 billion barrels of oil equivalent (P50 unrisked volumes) in the Labrador South Region. October 20, 2021: This is the first exploration round for the newly imaged and defined Chidley Basin off the coast of Labrador. Ten of the parcels in the Labrador South […]
As oil prices hit multi-year highs, some speculative traders are betting on the options market that oil could exceed $100 a barrel by the end of this year and even reach a record $200 per barrel by the end of 2022. Call options give traders the right—but not the obligation—to buy assets at a certain […]
(St. John’s, NL – October 19, 2021) Noia members, along with the Board of Directors and staff, and industry participants, today were saddened to learn of the passing of Lee Shinkle, Newfoundland and Labrador offshore oil and gas industry pioneer and champion. “Words cannot describe the loss felt within Noia and the Newfoundland and Labrador […]
Demand to continue growing to 2050, new outlooks show Two new global energy outlooks released amid major shortages in Asia and Europe underscore the reality that it will take decades for the world to shift to low carbon energy. Rash policies that cut off traditional supply can have unintended consequences that threaten the ultimate goal, […]
