Aging Terra Nova FPSO may not be the biggest, but its loss for up to 2 years will be costly Instead of producing oil offshore Newfoundland, the Terra Nova FPSO may soon become a longer-term fixture in Conception Bay, or dockside at a port like Bay Bulls. That’s not a good scenario for Newfoundland and […]
Oil and gas players in Newfoundland and Labrador are pushing the federal government for an incentive programme they hope will salvage exploration and development projects off the Eastern Canadian province, many of which have been cancelled or delayed amid the Covid-19 pandemic. A proposal recently unveiled by the Newfoundland and Labrador Oil and Gas Industry […]
More than 800 take part in virtual town hall to raise awareness about crisis in the oil sector A virtual town hall hosted Thursday by a St. John’s-based oil industry lobby group turned into a booster session for federal cabinet minister Seamus O’Regan, who is under intense pressure to deliver a lifeline to the beleaguered […]
Noia CEO says companies ‘are really worried about survival’ as pandemic ravages oilpatch The federal natural resources minister says Ottawa is focusing on incentives based on exploration to help the Newfoundland offshore oil industry as it deals with the crippling fallout of COVID-19. “Exploration is key,” Seamus O’Regan told CBC News. “We recognize that.”
Federal and provincial officials holding conversations with operator to support project Canadian integrated Suncor Energy on Tuesday downplayed media reports that the Terra Nova oilfield off the eastern Canadian province of Newfoundland and Labrador would remain shut-in through 2022. “I want to be clear that no decisions have been made to shutdown production operations on […]
Premier Dwight Ball says ‘offshore industry has undergone tremendous challenges’ Premier Dwight Ball says the Terra Nova oilfield has been “extremely important” for Newfoundland and Labrador, amid reports that Suncor is shutting down production there until 2022. Ball was responding to a question from the business news website Allnewfoundlandlabrador.com, which broke the new
TORONTO/WINNIPEG (Reuters) – Canada’s oil patch has endured five years of existential threats that have pruned weaker companies, but now its strongest firms are trying to navigate the coronavirus pandemic, which has set off the worst crisis in the oil industry in 40 years. Economic shutdowns have ground travel to a halt, cutting fuel demand […]
Canada’s oilpatch is not dead, Prime Minister Justin Trudeau said Thursday, as political pressure mounted on the government not to provide any further bailouts to the struggling sector. Trudeau was speaking a day after Green parliamentary leader Elizabeth May and Bloc Quebecois Leader Yves-Francois Blanchet both said post-COVID-19 economic investments should focus not on the […]
Irving Oil Ltd.’s venture to use tankers to ship Western Canadian crude from B.C., through the Panama Canal, and up to its New Brunswick refinery is a return to the purpose of the failed Energy East pipeline project, former premier and Canadian ambassador Frank McKenna says. “It’s a spectacular thing,” said Mr. McKenna, an early […]
Canadian liquefaction player gets deadline extensions for commercial deliveries, FIDs Canadian liquefaction player Pieridae Energy is getting more time to deliver volumes to German customer Uniper from the planned Goldboro LNG export project in Nova Scotia, which has been delayed amid weak demand driven by the Covid-19 pandemic. The company said Tuesday it had negotiated […]
