Xocean rides the remote operations wave
“Remote operations” is more than just a buzzword for Xocean’s chief executive, and he’s got the boats to prove it.
Canada
Total records $8bn writedown on carbon-heavy oil assets
Total SE announced an $8.1 billion writedown after the push to curb carbon emissions and the coronavirus pandemic challenged assumptions about the long-term viability of some oil and gas assets.
Aker Solutions bags £120m deal with ExxonMobil
Norwegian energy services firm Aker Solutions has clinched a five-year contract extension from ExxonMobil to provide a range of services on the Hebron platform, offshore Newfoundland.
European gas demand under pressure
The impact of coronavirus has not been felt as strongly by the gas industry as oil, Rystad Energy’s CEO Jarand Rystad has said, although increasing LNG production seems set to keep prices under pressure this year.
Canada’s Keystone XL pipeline faces coronavirus delay
Construction work on Canada’s major Keystone XL pipeline looks poised to stall mere weeks after the controversial project was given the green light by TransCanada (TC) Energy.
IEA: short-term pain to balance out in second half
Actions taken by producer states under the OPEC+ banner, coupled with moving oil into storage, should see a stock draw of 4.7 million barrels per day in the second half of 2020, the International Energy Agency (IEA) has said in its recent Oil Market Report (OMR).
i3 Energy to buy ‘struggling’ Canadian firm and list on Toronto Stock Exchange
i3 Energy plans to buy out a “struggling” Canadian oil and gas firm and list on the Toronto Stock Exchange (TSX).
Oil’s 60% crash is the tip of an iceberg. The reality is worse
As oil crashes due to the impact of the coronavirus, it’s easy to overlook an even more dismal reality for producers: the real prices they’re getting for their barrels are worse still.
TransGlobe slashes spending, dividend
TransGlobe Energy has responded to the oil market’s recent plunge by slashing planned spending in 2020, from $37.1 million to $7.1mn.
Canadians invite industry body to speak at sustainability seminar
The leading representative body for the UK’s offshore oil and gas industry is heading to St Johns, Newfoundland to a seminar focused on sustainability and international trends in oil and gas.
Reasons for optimism: Taking stock of carbon reduction achievements and possibilities
As we enter a new decade, I’m sure I’m not alone in reflecting on matters that are personally important, together with major issues that impact on society, the environment and the economy.
Low demand, US supply squeeze OPEC
Oil demand will reach 101 million barrels per day in 2020, OPEC’s World Oil Outlook (WOO) has said.
The $30bn exodus: Foreign oil firms bail on Canada
Capital keeps marching out of Canada’s oil industry, with Kinder Morgan Inc.’s sale of its remaining holdings in the country on Wednesday adding to more than $30 billion of foreign-company divestitures in the past three years.
Chevron seeks all-electric Canada LNG plant to cut emissions
Chevron Corp. is seeking approval to modify its plans for a liquefied natural gas export facility on Canada’s Pacific Coast to an all-electric design that it says will result in the lowest greenhouse-gas emissions per ton of LNG of any large project in the world.
Former Marathon Oil boss joins Cairn Energy board
A former vice president of Marathon Oil has joined the board of Scottish firm Cairn Energy.
Oil and gas firm uncovers dinosaur skeleton
An oil and gas firm has uncovered a dinosaur skeleton amid an excavation in Canada.
Canada’s OPEC-style cut stirs ‘slippery slope’ meddling concerns
While Alberta’s plan to mandate OPEC-style production cuts already is boosting oil prices and shares, the revival of Canada’s resource nationalism adds another layer of risk for investors to consider.
Exxon’s $2bn Canada move shows confidence when others flee
Almost two years after Exxon Mobil Corp. removed billions of barrels of oil-sands crude from its reserves, its Imperial Oil Ltd. unit is investing again, saying low Canadian crude prices that scared off the other majors make it a perfect time to build.
Canadian crude hits $20 a barrel
$20 Oil? Welcome to Canada, Where crude prices haven't recovered.
Shell confirms FID on £23bn Canadian LNG project
Shell said today that it had taken a final investment decision (FID) on LNG Canada, a major liquified natural gas (LNG) project in Kitimat, British Columbia.
Shell-led LNG project bucks trend by not waiting for gas buyers
The developers of a £23.8 billion project to export Canadian natural gas are taking on a bold strategy: build now and worry about buyers later.
Deep Casing Tools re-enters Canada after private equity boost
An Aberdeen-based oil field technology firm has re-entered the Canadian market after being buoyed by a recent investment.
Saudi Arabia orders Canadian envoy to leave over criticism
Saudi Arabia has ordered the Canadian ambassador to leave the ultraconservative kingdom within 24 hours after his nation criticised the recent arrest of women's rights activists.
Husky keeps Transocean rig for Canadian job
Canadian oil firm Husky has booked the Henry Goodrich rig for another year for a job off the country’s east coast. The contract is expected to start in the fourth quarter. Transocean said the contract backlog was $100 million.
Canada’s $30bn LNG hope edges closer as Shell ramps up
A flurry of activity in a remote Canadian town is raising optimism that Royal Dutch Shell Plc and its partners are ready to go ahead with the nation’s largest infrastructure project: a C$40 billion ($30 billion) liquefied natural gas terminal that could at last unlock energy exports to Asia.