Keystone XL may be sold for scrap if Biden moves to kill it
The Canadian province that invested $1.1 billion of taxpayers’ money in the controversial Keystone XL project is now considering the sale of pipe and materials to try to recoup some funds.
Canada
LNG Canada plans return after COVID-19 outbreak
Staffing levels are increasing at LNG Canada following a COVID-19 outbreak in November and December.
Deal with Li Ka-shing gives Canadian oil giant a Biden hedge
Cenovus Energy Inc. is getting more than just a rival Canadian oil producer with its acquisition of Husky Energy Inc. It’s also shoring up its defenses against an anti-oil sands movement that could get a boost if Joe Biden is elected as the next president of the U.S.
Cenovus to create Canada oil giant with $2.9bn Husky deal
Cenovus Energy Inc. agreed to buy Husky Energy Inc. in a C$3.8 billion ($2.9 billion) all-stock deal that will combine two of the largest players in Canada’s beleaguered oil-sands industry, which is struggling after the slump in crude prices.
CNOOC picks Stena Drilling for one-well job off Canada
Stena Drilling has struck a deal with CNOOC International for a one-well job off Newfoundland, Canada.
i3 Energy completes Canadian trading
Oil explorer i3 Energy said today it had completed the acquisition of the petroleum and infrastructure assets of Canadian firm Gain Energy for £44.5 million.
Equinor making job cuts in UK, Canada and US in response to downturn
Equinor is making job cuts in the UK, Canada and US in response to the oil downturn, with its Aberdeen workforce included in the process.
Oil companies wonder if it’s worth looking for oil anymore
A few dots near the bottom corner of the world map in the southern Atlantic, the Falkland Islands were once at the forefront of a new era for the oil industry as companies scoured the planet for resources.
I3 Energy issues half a million new shares as it eyes first production assets
I3 Energy has issued more than half a million new shares to fund its acquisition of Gain Energy’s petroleum and infrastructure assets.
I3 Energy to sell soon-to-be-acquired Canadian assets in deal worth £25m
Oil and gas explorer i3 Energy has agreed a deal to sell part of its soon-to-be-acquired assets in a deal worth £25 million.
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.
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.