It’s the last chance for the public to comment on Equinor’s proposed Bay du Nord project in the Flemish Pass, off Newfoundland’s East Coast. The Impact Assessment Agency of Canada (IAAC) announced Aug. 9 it is conducting an environmental assessment for the proposed project with a deadline of Sept. 8 for public comment. Equinor (formerly […]
It remains the block that keeps giving. Covering an area of 6.6 million acres, equivalent in size to 1,150 Gulf of Mexico blocks, the Stabroek block has so far delivered over 20 commercial discoveries pegged at more than 9 billion barrels of oil equivalent resources. Operator, ExxonMobil, has only encountered 3 non-commercial wells at Stabroek […]
CALGARY — While other large oil producers have pledged not to boost spending this year, Canadian Natural Resources Ltd. raised its capital budget by $275 million on Thursday following improved outlook for both oil and natural gas prices. The move sets Canadian Natural, the country’s largest oil and gas producer, apart from other Calgary energy […]
Company’s east coast E&P boss tells supply chain that the final investment decision on field’s life extension scheme is imminent Calgary-based Suncor Energy aims to take the final investment decision this month on its US$500 million Terra Nova Asset Life Extension (ALE) project offshore Newfoundland & Labrador, Canada. There were fears earlier this year that […]
Canada-based marine technology company Kraken Robotics has completed the acquisition of 3D acoustic imaging specialist PanGeo Subsea. The acquisition was finalised on terms previously disclosed in the definitive agreement signed in July, Kraken said. Upon closing, PanGeo is now a wholly-owned subsidiary of Kraken Robotic Systems. The company will continue to operate in sub-seabed imaging […
Cenovus, the Calgary-based oil sands major, will continue to sell conventional oil and gas assets in Canada in order to help drive down its net debt to at least C$10 billion ($US8.03 billion) by the end of the 2021 financial year, with a longer-term target of C$8 billion. The company will retain offshore fields it […]
The announcement this week by U.S. oil major ExxonMobil that it has discovered more oil off the coast of Guyana further enhances the outlook analysts have had for the new oil producing country. Additional volumes being discovered at the prolific Stabroek Block cements the expectation that more FPSOs will be commissioned to produce the hydrocarbons […]
Ottawa struck a $5.2-billion deal with Newfoundland and Labrador to help complete construction of the debt-plagued Muskrat Falls hydroelectric project, a tentative agreement that would keep electricity rates from almost doubling while alleviating pressure on a province in the midst of a deep fiscal crisis. Muskrat Falls, which started with great optimism in 2013 on […]
U.S. oil major ExxonMobil has made another oil discovery at the prolific Stabroek offshore block in Guyana. This adds to around nine billion barrels of oil equivalent discovered over the past few years and paves way for future development. The discovery was made at Whiptail-1 well at the 6.6 million acres (26,800 square kilometers) offshore […]
Private equity firm Cresta Fund Management has agreed to buy a controlling stake in idled Canadian 135,000-barrel-per-day (bpd) Come-by-Chance refinery, a fund representative said on Monday, with the aim of converting it to renewable fuels production. The refinery, owned by North Atlantic Refining Ltd (NARL), has been idled for more than a year. Several refiners […]
