The world is on track to run out of sufficient oil supplies to meet its needs through 2050, despite lower future demand due to the Covid-19 pandemic and the accelerating energy transition – unless exploration speeds up significantly and capital expenditure of at least $3 trillion is put to the task, a report by Rystad […]
Next year will be a test of endurance for many in the oil and gas industry Three price crashes in 12 years left the oil and gas industry — even the supermajors — running lean. While industry rebounded from the first two and carried on, the foundation that remained was shaky. And the shock of […]
ST. JOHN’S, N.L. — Husky Energy says 75 layoffs in Argentia affect non-unionized workers as the oil and gas project remains in limbo due to the uncertainty created by the COVID-19 pandemic and the drop in oil and gas prices. On Friday, the provincial government announced $41.5 million in funding for the company, matched dollar […]
Noia CEO Charlene Johnson expects fund will keep a lot of jobs in province The impact of the $41.5 million that Husky is matching to keep West White Rose in warm-idle mode suggests the remainder of the fund could have a major impact on keeping workers dependent on the offshore sector employed. News that $41.5-million […]
Husky Energy will receive $41.5 million in federal money to maintain jobs and move toward restarting its West White Rose offshore oil project in Newfoundland and Labrador, although officials admit a restart is not certain. Newfoundland and Labrador Premier Andrew Furey made the funding announcement Thursday at Husky’s offices in downtown St. John’s. Furey said […]
(St. John’s, NL – December 3, 2020) Please find below a statement from Noia CEO Charlene Johnson on today’s announcement by the Government of Newfoundland and Labrador about financial support for the West White Rose project. “Today’s announcement by the provincial government of $41.5 million dollars to be matched by the partner companies is positive […]
The Honourable Andrew Furey, Premier of Newfoundland and Labrador, the Honourable Andrew Parsons, Minister of Industry, Energy and Technology, and the Honourable Seamus O’Regan, Minister of Natural Resources, Government of Canada will make an announcement regarding the West White Rose Project tomorrow (Thursday, December 3). They will be joined by Jonathan Brown, Senior Vice President, [&hel
Norway’s oil output curbs, in place since June, are set to end on Dec. 31, the Ministry of Petroleum and Energy said on Tuesday. “The Norwegian regulation will expire at the end of the year,” the ministry said in a statement. Following a sharp drop in crude prices in early 2020 as the coronavirus pandemic […]
US supermajor plans to install vast cable network linking onshore facilities to FPSOs in the giant Liza field US supermajor ExxonMobil is looking to implement a high-speed fibre optic transport service for its main Guyana offshore developments in an attempt to improve productivity and support remote operations. According to a study recently submitted to Guyana’s […]
Intecsea study says no showstoppers to floating wind arrays off Newfoundland & Labrador — but icebergs, sea ice and cold climate pose challenges Icebergs, sea ice and sub-zero temperatures are the key challenges to overcome before floating wind turbines can be safely deployed off Newfoundland & Labrador (N&L), Canada to provide power to oil and […]
