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 […]
The Minister of Industry, Energy and Technology admits that it may take some time to transition away from non-renewable resources like oil and gas, but the transition is happening. The province announced last week that the Come By Chance Refinery is being transformed to produce bio fuels from things like canola oil. Andrew Parsons says […]
A deal to transform the Come By Chance oil refinery and create renewable and sustainable biofuel will breath new life into the facility by the middle of 2022, according to Premier Andrew Furey. Cresta Fund Management has bought a controlling stake of the idled refinery, and plans to convert the plant to make aviation fuel […]
Canadian oil and gas companies have been hesitant to loosen the purse strings in spite of this fall’s commodity price boom, and the arrival of the new Omicron COVID-19 variant may help to explain why. Benchmark West Texas Intermediate crude closed at US$65.67 on Wednesday, more than 20 per cent lower than in early November […]
Darlene Hennebury has seen some dark times trying to keep her business in Arnold’s Cove going since opening more than five years ago. She opened Killick Inn and Suites in 2016. But between the inactivity at the Come By Chance oil refinery, the wind-down of the Hebron platform project in Bull Arm and the sudden […]
COME BY CHANCE, N.L. — For people who have been working at the Come By Chance oil refinery over the last 18 months while it was in warm idle — and for those who worked there and were hoping to get back to work there — a blanket of uncertainty lifted Tuesday, Nov. 30, with […]
A proposed development to supply international energy markets with liquified natural gas from the province’s offshore has been registered for environmental assessment. LNG Newfoundland and Labrador Limited, which is working in partnership with the First National Major Projects Coalition and the Miawpukek First Nation, is proposing to develop an offshore gas hub in the Jeanne […]
HALIFAX—Texas is once again the most attractive jurisdiction in North America for oil and gas investment, while Newfoundland and Labrador ranked 16th out of 22 provinces, territories, and US states in the latest survey of petroleum-sector executives released today by the Fraser Institute, an independent, non-partisan, Canadian public policy think-tank. “Newfoundland and Labrador’
News that Kraken Robotics Inc. has landed $7 million worth of contracts from the Newfoundland Offshore Oil and Gas Industry Recovery Assistance Fund gave the stock a bit of a bump this week. Kraken, PNG on the TSX-V exchange, hit 44 cents Tuesday before pulling back and settling in around 40 cents in mid-day trading […]
Projects will protect and create jobs: government says ST. JOHN’S, N.L. — The offshore oil industry in the province is hot once again with the announcement Tuesday of financial support for 26 supply and service projects through the federally funded Newfoundland and Labrador Offshore Oil and Gas Industry Recovery Assistance Fund. The total money announced […]
