There’s a huge potential risk in being a first mover CALGARY — Canada’s five largest oilsands companies pledged Thursday to cut roughly 97 per cent of their current total emissions with the goal of reaching a net-zero emissions target by 2050, with help from both the federal and provincial governments. A group called the Oil […]
Results of the 2021 Independent Resource Assessment show a potential of 21.9 billion barrels of oil equivalent (P50 unrisked volumes) in the Labrador South Region. October 20, 2021: This is the first exploration round for the newly imaged and defined Chidley Basin off the coast of Labrador. Ten of the parcels in the Labrador South […]
As oil prices hit multi-year highs, some speculative traders are betting on the options market that oil could exceed $100 a barrel by the end of this year and even reach a record $200 per barrel by the end of 2022. Call options give traders the right—but not the obligation—to buy assets at a certain […]
(St. John’s, NL – October 19, 2021) Noia members, along with the Board of Directors and staff, and industry participants, today were saddened to learn of the passing of Lee Shinkle, Newfoundland and Labrador offshore oil and gas industry pioneer and champion. “Words cannot describe the loss felt within Noia and the Newfoundland and Labrador […]
Demand to continue growing to 2050, new outlooks show Two new global energy outlooks released amid major shortages in Asia and Europe underscore the reality that it will take decades for the world to shift to low carbon energy. Rash policies that cut off traditional supply can have unintended consequences that threaten the ultimate goal, […]
Capt. Anthony (Tony) Patterson’s speeches tend to invoke images of the ocean on its fiercest days, even if he doesn’t intend it. It might be the nautical phrases. Passionate about marine safety, he is board chair of Virtual Marine Technology (Virtual Marine) and managing director of its growing business arm: Virtual Marine Training. Virtual Marine […]
Recent developments in Atlantic Canada’s oil and gas sector are giving the region a boost, providing a more positive outlook as the industry moves out of recent challenging times. First, giant Suncor Energy and its partners announced a decade-long extension to the life of the Terra Nova offshore project. Then, the First Nations Major Projects […]
Norway will continue to explore for oil and gas in the next four years, with most new drilling permits to come in mature regions of its oceans, the incoming government said on Wednesday. A minority coalition of the leftwing Labour Party and the rural Centre Party will take power on Thursday after beating the ruling […]
Citigroup Inc. said oil prices may hit $90 a barrel at times this winter as gas-to-oil switching drives stockpiles lower. The bank, which raised its Brent oil forecast for the fourth quarter to $85, said inventories may dwindle to their lowest level on record in terms of days-of-cover by year-end. That comes as consumption gets […]
Record-high natural gas prices are prompting more utilities to switch from gas to oil derivatives, fanning the flames of an already strong oil price rally. A Reuters report quoted an OANDA analyst as saying that there were a lot of bullish factors for oil right now, and they weren’t going away anytime soon. Among these […]
