A Canadian offshore oil regulator said on Friday that it has licensed a significant discovery by Equinor near the country's Atlantic coast. Global oil companies are pumping billions of dollars into offshore drilling because they can turn profits at lower prices than some onshore production…
As we enter the final month of 2022, a review of the floating production system (FPS) market revealed that some E&Ps have been bold with investments in the development of their oil and gas (O&G) reserves, with a total of 1.9 mmboepd (1.3 mmbpd of oil and 3…
Salt Ship Design has designed a harsh environment FPSO hull for the Bay du Nord project in Canada for Equinor and license partner BP.'Salt has been working closely with Equinor over quite some time to develop an FPSO with enhanced motion characteristics…
Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects, including some in the remote iceberg waters far off Canada's Atlantic coast.Surging oil prices are encouraging the investments…
Canada has released draft guidelines on how new oil and gas projects should demonstrate 'best-in-class' greenhouse gas emissions performance, following up on a government announcement first made in April.The guidance, released late on Tuesday…
BP announced it will buy Cenovus Energy's 35% stake in the undeveloped Bay du Nord project in the Flemish Pass offshore Canada's Newfoundland and Labrador.As part of the deal announced on Monday, BP will also sell its 50% non-operated interest…
Environmental groups are suing the Canadian government in a bid to overturn its approval of Equinor ASA's huge Bay du Nord offshore oil project, Sierra Club Canada, one of the plaintiffs, announced on Wednesday.The Canadian government approved the $12 billion Bay du Nord project in April…
The Canadian government on Wednesday approved a $12 billion offshore oil project proposed by Norway's Equinor, after an environmental assessment concluded it would not cause significant adverse effects.The Bay du Nord project would involve building…
French oil major TotalEnergies said Thursday it wouldn't sanction the North Platte deepwater project in the U.S. Gulf of Mexico and that it would withdraw from it. Equinor said it was disappointed with the decision, but that it would move forward with the development…
On many levels, 2020 was a pretty horrific year, “a year like no other”, according to Mike Beveridge, managing director of energy investment firm Simmons Energy, a division of Piper Sandler. It’s easy to see why. A dip into a negative WTI contract prices…
Norway's Equinor and Canada's Husky Energy have reportedly pulled brakes on the plan to develop the Bay du Nord project offshore Canada, Reuters reported on Thursday.'Equinor and partner Husky Energy have decided to defer the Bay du Nord development…
Canada's Husky Energy has decided to suspend construction activities on its West White Rose offshore project, citing the COVID-19 virus fears.The oil company sanctioned the West White Rose development in May 2017. The field is being developed…
Oil and gas project sanctioning in 2020 could drop almost 70% compared to 2019 if the oil prices remain in the $30 a barrel area, Norway-based Rystad Energy said in an analysis on Monday.'The effect of the COVID-19 virus on global demand for oil and gas…
The last 12 months has seen a long-envisioned concept in field resident subsea finally make it mainstream. The idea now features in talks by chief technology officers at major industry events, instead of just being the focus of a smaller subsea side events…
Leaders of a public oilfield investment entity in Newfoundland, Canada, are in a rush to secure more oil — and the province’s first gas production — as well as more investment from international oil companies, government documents suggest.With some decrying gas as the new oil…
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