Norwegian operator sizes up bigger FPSO for Canadian project as talks with shipyards resume Norwegian operator Equinor has reignited its stalled Bay du Nord oil project offshore eastern Canada with plans for a larger floating production, storage and offloading vessel that can produce 200,000 barrels per day of oil. The development was shelved in 2020 […]
Stability in Brent crude futures viewed as ‘highly constructive’ for offshore project demand globally Offshore drilling contractors Transocean and Valaris are considering all the increased customer inquiries, discussions, and contract awards realised during the third quarter of 2021 as a positive outlook for the sector. Citing customer conversations and increased utilisation and dayrat
‘We need to make sure that the world understands the product that we have,’ says premier As global leaders and policymakers discuss the climate change crisis at the COP26 conference in Scotland, Newfoundland and Labrador Premier Andrew Furey is there taking in the messages, and sharing one of his own. “The world needs petroleum products […]
Equinor EQNR-Nhas made an oil discovery estimated to hold up to 62 million barrels of crude off the coast of Norway, the energy major said on Monday. The discovery, just north of the Tyrihans field and west of the Kristin development in the Norwegian Sea, was the state-controlled firm’s sixth find in domestic waters this […]
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 […]
