The oil and gas industry is on course for its worst discovery toll since 1946, according to new Rystad Energy analysis. Global oil and gas finds in 2021 will hit their lowest full year level in 75 years if the remainder of December fails to yield any significant finds, the company outlined. As of the […]
Equinor and its partners will sanction BM-C-33 development by early 2022 with potential final investment decision in early 2023 Norway’s Equinor will soon sanction development of the giant Pao de Acucar gas condensate field on Block BM-C-33 in Brazil’s Campos basin. “We have matured towards preliminary project sanction now or [the] beginning [of] next year […]
(Bloomberg) –Oil at $100 a barrel cannot be ruled out in 2023 as supply additions are expected to be too slow to keep up with record demand, according to Goldman Sachs Group Inc. While the bank’s base forecast is for Brent to stay around $85 next year and 2023, it could breach triple digits through […]
NLIS 1 Executive Council Industry, Energy and Technology December 16, 2021 Minister Parsons Launches Renewable Energy Plan for Newfoundland and Labrador The Honourable Andrew Parsons, Minister of Industry, Energy and Technology, today launched the province’s Renewable Energy Plan. The plan, titled ‘Maximizing Our Renewable Future’, was developed with considerable input fro
Offshore union leader says workers encouraged and hopeful as aging vessel heads off for 7-month overhaul An offshore oil project that teetered on the verge of collapse not long ago is about to take a major step toward resuming production when the Terra Nova FPSO sets sail for a Spanish dockyard, likely this week. “Jobs, […]
LONDON, Dec 14 (Reuters) – Norwegian energy group Equinor (EQNR.OL) plans to sell a stake in its Martin Linge oilfield in the North Sea, hoping to raise more than $1 billion, industry and banking sources told Reuters. The sale is aimed at reducing Equinor’s large stake in the field and take advantage of strong demand […]
Exxon Mobil Corp outlined a major new investment in Guyana amid government calls for delivering economic benefits to residents from deepwater oil and gas discoveries helping turn the South American nation into an oil powerhouse. A coming onshore supply base will expand jobs and boost local fabrication for future projects starting with its fourth production […]
Norway’s power production surplus is expected to fall significantly by 2026, with the south of the country moving into deficit owing to rapidly increasing demand, power grid operator Statnett said on Friday. Power demand in Norway is expected to grow to 158 terawatt-hours (TWh) by 2026, up by 19 TWh from current levels, driven by […]
Cenovus Energy, which merged with Husky earlier in the year, is expecting most of its capital spending in the offshore sector to be directed towards the Terra Nova Asset Life Extension project – but the jury is still out on West White Rose. Cenovus released its 2022 budget and 5-year business plan today. The company […]
Assessment of the resource found Nalcor was receiving more oil than it was entitled A portion of Newfoundland and Labrador’s equity stake in an offshore oil project has been stripped, and the Crown energy corporation that owns that asset, Nalcor Energy, will have to surrender 1.3 million barrels of oil to other companies involved in […]
