ST. JOHN’S, N.L. — Briefing notes obtained by the Official Opposition through an access to information request show the provincial government appears to have gone against its own advice in negotiations with Suncor Energy and its partners in the Terra Nova project by offering to take up to a 15 per cent equity stake in […]
The most vexing challenge for service companies in the geosciences sector is predicting the ebb and flow of oil company spending on exploration that provides the lifeblood of the business. How much, when and where are the questions that determine their strategies. Any answer, however well researched, is at best a guess, even when coming […]
What a difference (almost) two years can make. In September 2019, hoping to provoke discussion about what the offshore oil and gas industry has done for Newfoundland and Labrador, I submitted an opinion column to CBC. Subsequently, I was invited to speak with Ted Blades on On The Go. I did so as I was […]
ST. JOHN’S, N.L. — The Newfoundland and Labrador Oil and Gas Industries Association (Noia) says a deadline of June 15 has been set for a decision on whether the Terra Nova floating production, storage and offloading (FPSO) vessel is to continue with its work in the offshore or hit the retirement button. A Noia news […]
(St. John’s, NL – May 27, 2021) During a recent call with investors, Suncor Energy CEO Mark Little commented on the future of the Terra Nova FPSO and efforts to confirm the Asset Life Extension project of the vessel. Mr. Little stated that a deadline to decide on the project has been set for June […]
Canada’s second-largest oil producer, Suncor Energy Inc (SU.TO), said on Wednesday that it plans to lift production to a record-high average of 800,000 barrels per day (bpd) over 2021-25, even as it cuts its emissions by more than one-third. Fossil fuel companies, and especially producers in Canada’s high-carbon oil sands, face growing pressure from investors […]
LONDON (Reuters) – The United Kingdom will not commit to halting new oil exploration in the North Sea, a government energy body told Reuters, despite a warning from the world’s top energy watchdog to rein in fossil fuels spending to achieve climate goals. The UK is due to host the U.N. Climate Change Conference (COP26) […]
The International Energy Agency says investment in new fossil fuel projects must halt immediately if global climate goals are to be met. That’s at odds with the province’s plans to leverage oil and gas revenue to transition to a green economy. The strategy is outlined in the recent Economic Recovery Team report. Premier Andrew Furey […]
Offshore drilling rig contractor Maersk Drilling said on Thursday it saw some signs of market recovery as it reported that orders in the first quarter were at the highest level in more than three years. The company, which had already on Wednesday lifted its 2021 earnings guidance, said it added $730 million in new contracts […]
The International Energy Agency, which has stepped up its efforts to become a major green energy supporter, appears to have forgotten the reason it was set up as an agency in the first place. In its new report “Net Zero in 2050”, the energy agency calls for no new investments in oil- and gas-related projects. […]
