But a full recovery would be contingent on how quickly a vaccine could be developed CALGARY – Despite projections that the coronavirus pandemic would hasten peak oil demand, global consumption for the commodity has rebounded by an astounding 13 million barrels per day in the past four months, according to a new study. Global oil […]
Equinor-led quartet in tune for multi-field development off Norway An Equinor-led quartet of operators has reached an agreement to develop several discoveries through subsea tie-backs to its Aasgard field in the Norwegian Sea for an estimated investment of up to Nkr10 billion ($1.2 billion). The Haltenbanken East development scheme would encompass five discoveries spanning four […]
Companies play catch-up to European counterparts on environmental, social goals For executives at Husky Energy’s headquarters in Calgary, there is a new wrinkle in how their pay is calculated: climate change. This is the first year the company is linking greenhouse gas emissions to compensation as part of a new plan that also includes a […]
Premier Andrew Furey and federal Intergovernmental Affairs Minister Dominic LeBlanc say they are on the same page when it comes to ensuring the future viability of Newfoundland and Labrador’s oil and gas sector. And while they remained short on details, LeBlanc seemed to hint at some sort of announcement in the coming weeks. Furey said […]
A survey made by the Norwegian statistics bureau SSB revealed that oil and gas investment in Norway will rise more this year and decline less in 2021 than predicted a few months ago. Oil firms, including giant Equinor, decided to go through with several projects after the Norwegian government granted tax incentives in June to encourage investment following a […]
The Canada Energy Regulator says its expects oil production in Canada will average 4.38 million barrels per day this year, down by 6.6 per cent compared with 2019. The federal regulator says it expects oil production to gradually recover over the balance of 2020 after producers halted what analysts estimate was as much as one […]
It’s an understatement to say the slowness of these programs has generated skepticism within the industry Well, imagine that, a Canadian oil producer is set to receive help from the federal government’s much-touted financial assistance programs for the energy sector. It took a while — 17 weeks, in fact — since the initial promise of […]
Kraken Robotics Inc. went looking for experience and found it in someone whose old job might have made him a customer. Kraken said Thursday that Sam Allen, who led Technip Canada from its inception in 1997 until 2012 and has over 30 years of experience in the offshore energy industry, is joining Kraken Robotics Inc. […]
Norwegian seismic player continues discussions with lenders The board of directors for Norwegian seismic player PGS has rejected an unsolicited $600 million offer from peer TGS for its multiclient library, saying the proposal was “not in the best interests of the company and its stakeholders”. PGS said Thursday that the board believed offer undervalued its […]
Impact of spending decline felt across the provincial economy, ATB Financial economist says Capital spending on oil and gas extraction in Alberta is expected to fall by roughly $7 billion from last year to $16.6 billion in 2020 — a plunge of about 30 per cent, according to ATB Financial. In an analysis released Wednesday, […]
