Tuesday, September 29, 2020

Canada News

Rolling the Dice in Chaos: The Prospects of Investment in the Gas Industry

Historical growth and prospects of gas investment for short-, medium- and long-term ($ billion). Source: GECF Secretariat, based on data from the GECF GGM

As stated in the Declaration of Malabo at the 5th Summit of Heads of State and Government of the GECF Member Countries, in order to sustain the security of demand and supply of natural gas…

Equinor Axing Jobs in US, Canada and UK

Equinor's Houston office (Photo: Ole Jørgen Bratland, Equinor)

Norwegian oil and gas firm Equinor is set to cut jobs significantly in the United States, Canada and Britain to adjust to a fall in oil prices, a company spokesman said on Wednesday.The…

Japan's Seven & i to Buy Marathon Petroleum's Speedway Gas Stations for $21B

Illustration only - Image by Daniel Case / CC BY-SA 3.0

The Japanese owner of 7-Eleven convenience stores has agreed to buy Marathon Petroleum Corp's Speedway gas stations for $21 billion, brushing aside coronavirus concerns to return…

Coronavirus Outbreaks Hit Petrobras' Quarterly Output

(File photo: Petrobras)

Coronavirus outbreaks at a number of platforms operated by Brazil's Petrobras hit production in the second quarter, the company said on Tuesday, though the firm indicated output…

US Approves LNG Exports from Oregon

© vladsv / Adobe Stock

The U.S. Energy Department on Monday approved the export of up to 1 billion cubic feet per day of liquefied natural gas from a proposed terminal in Oregon, a move it said would ease U.S.

KBR to Move Away from LNG, Energy Business

Credit: KBR

Engineering and construction firm KBR Inc will exit most of its liquefied natural gas (LNG) construction and other energy projects, it told investors and employees, as customers…

Price Drop Triggers Haggling Over Oil and Gas Deals

Premier Oil is working to buy the Andrew platform and BP's controlling stake in five surrounding fields, as well as its minority stake in the Shell-operated Shearwater field (Photo: BP)

The collapse in oil prices to 21-year lows has led potential buyers of oil and gas fields to try and renegotiate deals already agreed at higher prices, with the first examples emerging…

Repsol Given Green Light to Use Maersk Inspirer at Yme

Maersk Inspirer - Credit: Maersk Drilling

Spanish oil company Repsol has been given a green light to use the Maersk Inspirer jack-up rig at the Yme field, in the North Sea, offshore Norway.The consent, granted by the Petroleum Safety Authority Norway…

IEA: Early Signs of Recovery Visible, But Oil Demand Still Set For Record Fall

Image by Grispb/AdobeStock

Oil demand is still set for a record fall in 2020, the International Energy Agency (IEA) said on Thursday, but it trimmed its forecast for the drop citing easing lockdown measures.Demand…

Enbridge Sells Stakes in French Offshore Wind Projects

Image for illustration - Credit: Parc éolien en mer de Saint-Nazaire / GE / Chris New

Canadian energy infrastructure firm Enbridge has reached a deal to sell 49% of its 50% interest in three offshore wind projects under development in France to the Canada Pension…

IOG Taps Subsea 7 for North Sea Project SURF

Image Credit: IOG

Offshore installation company Subsea 7 has won a contract by Independent Oil and Gas (IOG) to provide Subsea, Umbilicals, Risers, and Flowlines (SURF) for Phase 1 of IOG's Core…

Woodside Watching Supermajors' Woes for Opportunities

Peter Coleman (File photo: Woodside)

Woodside Petroleum is keeping a close eye out for assets that might come up for grabs from the oil supermajors amid the oil market rout, seeing itself in a position to bid, Chief…

Cygnus 1 IS Gauge Certified to IECEX

(Image: Cygnus)

Cygnus Instruments announced its Cygnus 1 IS Ultrasonic Thickness Gauge now has IECEx Zone 0 Certification.In 1996 the IECEx was established through the initiative of the Ex industry…

When Oil Became Waste

© eaumstocker / Adobe Stock

A week of turmoil for crude, and more pain to comeThe magnitude of how damaged the energy industry is came into full view on April 20 when the benchmark price of U.S. oil futures…

Coastal Virginia Offshore Wind Turbine Components En Route to U.S.

Image Credit: Dominion Energy

Dominion Energy and Ørsted have said that the turbine components and monopiles for the Coastal Virginia Offshore Wind (CVOW) pilot project have started their journey to North America.

New Offshore Acreage Licensing to Drop 60% in 2020, Rystad says

An offshore drilling rig - Image by Namthip - AdobeStock

Newly licensed offshore oil and gas exploration acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels, Rystad Energy has said, as the Norwegian…

Record Oil Output Cuts Fail to Make Waves in Coronavirus-hit Market

© Emmanuel Campos / Adobe Stock

The minimal impact on oil prices from a global deal for record output cuts showed that oil producers have a mountain to climb if they are to restore market balance as the coronavirus…

Oil Rises After OPEC+ Agrees Record Output Cut

Oil Price - Image by namning/AdobeStock

Oil prices rose on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid concern that it won't be enough to head off oversupply with…

OPEC, Russia Approve Biggest-Ever Oil Cut to Support Prices

OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow oil nations, including the United States…

OPEC+ Oil Pact Hinges on Mexico Joining

Pemex oil platforms offshore Mexico - Image by BoH/Wikimedia Commons - Under CC BY-SA 2.0 License

Saudi Arabia's energy minister said on Friday that a final OPEC+ oil supply pact to reduce 10 million barrels per day (bpd), which was agreed on Thursday, hinges on Mexico joining in the cuts.OPEC…