Sunday, April 5, 2020

Canada News

OPEC+ Debates Biggest Ever Oil Output Cut as Virus Destroys Demand

Image by OSORIOartist - AdobeStock

OPEC and allies are working on a deal for an unprecedented production cut equivalent to around 10% of global supply, an OPEC source said after U.S. President Donald Trump called…

Oil Posts Biggest One-day Gain After Trump Touts Saudi-Russia Deal

© Pavel Ignatov / Adobe Stock

Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut…

Deutsche Bucht Offshore Wind Project Fully Complete

Credit: Northland Deutsche Bucht

Canada-based Northland Power has informed that its 252 megawatt (MW) Deutsche Bucht offshore wind project in Germany has achieved full completion.The offshore wind project is located in the North Sea…

Brent's Fall Creates Steepest Contango in 11 Years

Oil Tanker - Image by Gudellaphoto - AdobeStock

The discount on front-month Brent crude oil futures to later contracts increased to an 11 year high on Thursday, as the coronavirus pandemic continued to cause an unprecedented slump in global demand.

Upstream Sector Leads O&A M&A in 2019

Graph: GlobalData

A latest research revealed that the upstream sector accounted for the bulk of mergers and acquisitions (M&A) in the global oil and gas industry in 2019, generating some high-value…

Hapag-Lloyd Trials Biofuel

Image: Hapag-Lloyd

German shipping major Hapag-Lloyd announced that one of its ships recently refueled in Rotterdam with an eco-friendly biofuel, as part of its plan to reduce CO2 emissions."For the first time…

Canadian Energy Sector to Boost Spending

© muratart / Adobe Stock

Capital spending by Canada's oil and gas industry will rise by 6%, or C$1.9 billion, in 2020 from the previous year, halting a six-year decline due to improving economics, the Canadian…

NOAA: Oregon LNG Pipeline Will Have Minimal Impact

(Photo: NOAA)

The U.S. National Oceanic and Atmospheric Administration (NOAA) said its analysis found that the construction and operation of a new liquefied natural gas (LNG) facility in Coos Bay, Ore.

Cenovus Energy Sets Out to Slash Emissions

(Photo: Cenovus Energy)

Canada's Cenovus Energy on Thursday unveiled plans to reduce per-barrel greenhouse gas emissions by 30% by the end of 2030, as the country's oil industry faces growing pressure…

U.S. Drillers Add Rigs for first Week in Eight

AdobeStock / © Nightman

U.S. energy firms added rigs for the first time in eight weeks even as producers follow through on plans to reduce spending on new drilling.Companies added 4 oil rigs in the week to Dec.

Oil Consumption Tracking is All About Asia

© Vic / Adobe Stock

Oil market analysts must make sense of a bewildering array of statistics about production, consumption and inventories, compiled and published with varying definitions and degrees…

Petronas Names Second FLNG in S. Korea

Image: Petronas

Malaysian oil and gas company Petronas named its second floating liquefied natural gas (LNG) facility, the PFLNG Dua, in a ceremony in Geoje, South Korea.The floating LNG facility…

US Signs Highest LNG Export Contract

Graph: GlobalData

US signed highest volume of global long-term liquefied natural gas (LNG)  export contracts in 2019, accounting for around a 67% of global share. Abundant shale gas production in…

SAExploration Wins $130Mln of New Projects

Image: SAExploration

Houston-based  global seismic services company SAExploration announced a combined $130 million of new projects in Alaska, Canada and the Middle East.According to the geophysical…

Global Offshore Wind Market Grows 30%

Graph: IEA

The global offshore wind market grew nearly 30% per year between 2010 and 2018, benefiting from rapid technology improvements and about 150 new offshore wind projects are in active…

GasLog Sees Tighter LNG Shipping Market

Pic: GasLog

GasLog, an international owner, operator and manager of liquefied natural gas (LNG) carriers, is predicting a tighter LNG shipping market, as increasing United States LNG output…

McDermott Appoints Krummel as CFO

Chris Krummel (Photo: McDermott)

McDermott International announced the appointment of Chris Krummel as Executive Vice President, Chief Financial Officer, effective immediately. Krummel joined McDermott in 2016…

Keystone Pipeline Still Closed, ND Leak Source Unclear

AdobeSotck / © Berkut 34

The precise source of a leak on TC Energy Corp's Keystone oil pipeline in North Dakota has not yet been identified, a spokesman for the U.S. Pipeline and Hazardous Materials Safety…

TC Energy: North Dakota Spill Shutters Keystone pipeline

AdobeStock / © Maksym Yemelyanov

Oct 30 (Reuters) - TC Energy Corp said on Wednesday it is shutting its Keystone crude pipeline after a late Tuesday oil spill in North Dakota.The company said it detected a drop in pressure on Tuesday night on its 590…

Delfin Delays Final Louisiana FLNG Project

File Image: a typical FLNG underway on its way to deployment (CREDIT: shell)

Delfin Midstream Inc has delayed its plan to make a final investment decision on its proposed Delfin Floating Liquefied Natural Gas (FLNG) export terminal in the Gulf of Mexico…