Offshore ///

World Oil editorial: Time for Trudeau regime to lend help to Newfoundland and Labrador’s offshore industry

One of the more exasperating, outrageous situations being played out in the global upstream industry is the Trudeau administration turning a deaf ear, so far, to repeated requests and pleas for federal officials to lend substantive help to Newfoundland and Labrador’s (NL) offshore oil and gas industry.

Canadian community and business leaders call for federal investment in offshore energy

Community and business leaders, as well as supporters throughout Canada, are united to send a clear message to the Government of Canada that action is needed to attract investment in the offshore oil and gas industry and help thousands of Canadians get back to work.

Canadian trade group says the offshore industry is still waiting for promised assistance

A month after Natural Resources Canada Minister Seamus O’Regan said an announcement was coming “very soon,” the offshore oil and gas industry is still waiting for assistance to help it recover from COVID-19 and remain globally competitive.

Canadians petition government for oil industry support with letter-writing campaign

Canadians have sent more than 2,000 letters of support asking the federal government to invest in Newfoundland and Labrador’s offshore oil and natural gas industry.

Oceans Ltd. hit particularly hard by economic crisis

Oceans Ltd., a locally owned company with offices in St. John’s, Newfoundland and Labrador and Halifax, Nova Scotia, has been struck particularly hard by the recent economic crisis.

K&D Pratt ‘gravely concerned’ for Canadian offshore oil industry’s future

K&D Pratt has expressed grave concern for the economic future of the province without a solid investment from the Government of Canada in Newfoundland and Labrador’s offshore industry.

Canada’s Trudeau responds to Noia: “We will continue to work together”

Recently, the Newfoundland and Labrador Oil and Gas Industries Association (Noia) wrote to Canadian Prime Minister Justin Trudeau, seeking a commitment to support the region’s oil and gas companies, and their employees, in the face of depressed oil prices.

PanGeo Subsea attributes success to NL offshore industry, reiterates need for Canadian federal incentives

The current economic crisis in the offshore oil & gas sector has impacted PanGeo Subsea’s overall revenue and operations. The company was prepared to support early stages of a new offshore development with hopes for pre-installation survey imagining campaigns and further “close to home” debris surveys.

Potential offshore discovery off Canada’s eastern coast fuels optimism

Per Canada’s CBC News, a report this week has stoked some optimism in the Newfoundland and Labrador oil and gas sector, with a description of another “potentially commercial discovery” in the Flemish Pass Basin.

Canadian banks’ exposure to oil surges as credit lines are tapped

Canadian banks’ exposure to oil and gas loans has surged to a record as energy firms tapped credit lines to combat plunging oil prices.

Noia requests response from Canadian PM Trudeau on urgent requests for help

Noia wrote Prime Minister Justin Trudeau to request a response to pleas from the industry and the Government of Newfoundland and Labrador to provide assistance to help the offshore oil and gas industry recover from COVID-19 and remain globally competitive.

Senior Canadian officials unite to support offshore industry

Newfoundland and Labrador Premier Dwight Ball, along with provincial Minister of Natural Resources Siobhan Coady, expressed support for a focused initiative to persuade the federal government to provide immediate assistance to East Canada’s offshore industry, which has been hit hard by Covid-19 and the collapse of oil prices.

Daily Brief podcast: A look ahead at the coming week in oil and gas, May 25-29

Key trends for the coming week, including how industry groups' response to low oil prices differ dramatically in the U.S. versus other producing nations, China's big plans for its economy, and investment analysts turning their backs on key sectors of the industry.

Daily Brief podcast: A look ahead at the coming week in oil and gas

Key trends for the coming week, including a couple of wild cards that could threaten the recovering global oil price and production balance.

Canadian offshore industry in crisis mode

Over the last eight weeks, the Newfoundland and Labrador Oil and Gas Industries Association (Noia) has had ongoing discussions with the federal and provincial governments about providing immediate help to Canada’s offshore industry, which has been hit extremely hard by COVID-19 and the collapse of oil prices.

Canadian operators cut nearly $2.5 billion from 2020 budgets

Canadian oil and gas companies are cutting C$2.4 billion to C$3.5 billion ($1.7 billion-$2.5 billion) from their budgets for this year as low prices make most production unprofitable.

The last barrel

Craig Fleming, World Oil

Hope for the Canadian oil industry?

Chevron’s LNG exit adds to roster of companies walking away from Canadian energy

The U.S. oil giant called time on its Kitimat LNG plant on Wednesday, saying it plans to sell its 50% stake and that the project “will not be funded by Chevron and may be of higher value to another company.”

Canadian gas drillers pursue plan for floating LNG project

Rockies LNG Partners, a group of Canadian natural gas drillers seeking new markets for their production, is considering building an export project on barges floating off the coast of British Columbia.

Lease agreement brings Transocean Barents to Bull Arm Fabrication site

Nalcor Energy – Bull Arm Fabrication has signed an agreement with DF Barnes that will have the Site play host to the ultra-deepwater semi-submersible drill rig, Transocean Barents, as it readies for further exploration work offshore Newfoundland in 2020.