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Business & Finance

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Illustration; Source: Frontier Centre for Public Policy (FCPP), an independent Canadian public policy think tank
Business & Finance

No more oil & gas permits off Canada’s Pacific coast

Canada has seized control of all 227 offshore oil and gas exploration and production permits off its Pacific coast, putting a stop to further hydrocarbon extraction activities in this area.

about 2 years ago
Prelude FLNG; Source: Shell
Business & Finance

Shell’s new projects benefiting from ABL’s ‘one-stop solution’ for asset management

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Shell is set on employing a cloud-based master data build and optimization software from ABL across various new projects to achieve asset management efficiencies.

about 2 years ago
Sevan Louisiana semi-sub (for illustration purposes); Source: Seadrill
Business & Finance

International offshore rig count activity gets a boost in January

Baker Hughes’ rig count report shows that more than one rig joined the working international offshore fleet in January 2024.

about 2 years ago
16-year-old vessel returns to VARD for conversion
Business & Finance

16-year-old vessel returns to VARD for conversion

A Canadian company active in the offshore oil & gas and energy sectors has appointed Norway’s VARD to convert a platform supply vessel (PSV) that it built 16 years ago into a cable-laying vessel (CLV). I.T. International Telecom Marine (IT) is a Halifax-based marine network installer offering deskto

about 2 years ago
Trafigura seals long-term LNG deal with Canada’s largest natural gas producer
Business & Finance

Trafigura seals long-term LNG deal with Canada’s largest natural gas producer

Commodities trading group Trafigura has inked a long-term LNG agreement with Canada’s largest natural gas producer Tourmaline, marking the first time the two parties have signed such an agreement. Tourmaline said it increased its exposure to JKM by entering into a netback agreement with Trafigura ba

about 2 years ago
U.S. Naval Forces Central Command/U.S. 5th Fleet
Business & Finance

Red Sea crisis escalation: US-UK airstrikes, Houthis’ vessel attacks, spike in oil prices, and tanker trade slowdown

Recent events in the Red Sea have added fuel to the growing fears about the possibility of a wider conflict breaking out across the Middle East, prompting further concerns over oil flows, supply chains, and energy prices in the region and beyond.

15 minutes read
Canada’s Ksi Lisims LNG concludes first LNG offtake agreement with Shell
Business & Finance

Canada’s Ksi Lisims LNG concludes first LNG offtake agreement with Shell

Canada’s Ksi Lisims LNG, a co-development of the Nisga’a Nation, Rockies LNG, and Western LNG, has signed a 20-year LNG sale and purchase agreement (SPA) with Shell. This is the first LNG offtake agreement executed by Ksi Lisims LNG. Under the agreement, Shell will purchase 2 million tonnes of LNG p

about 2 years ago
Deepsea Bollsta rig, formerly known as West Bollsta (for illustration purposes); Source: Odfjell Drilling
Business & Finance

December brings international offshore rig count activity to a standstill

Baker Hughes’ rig count report shows that no new rigs joined the working fleet in December 2023.

about 2 years ago
Illustration; Source: The International Energy Agency (IEA)
Business & Finance

COP28’s impact on LNG spree: Will decarbonization moves throw oil & gas players off their game?

Will the anticipated global build-out of liquefied natural gas (LNG) projects continue or will many of these projects come to an abrupt end?

15 minutes read
Deepwater Champion drillship (for illustration purposes); Source: Transocean
Business & Finance

International offshore rig count climbs up a notch in November

Baker Hughes’ rig count report points out that one more rig joined the working fleet in November 2023 compared to the month before.

about 2 years ago
Kraken Robotics
Business & Finance

Survey deal for buried subsea pipelines knocks on Kraken Robotics’ door

Kraken Robotics has been hired by an undisclosed company for a specialized sub-seabed survey to map the exact location and integrity of buried pipelines.

about 2 years ago
FPSO Terra Nova; Source: Suncor
Business & Finance

Canadian FPSO comes back online years after embarking on revamp project

Suncor has brought back into production a floating production, storage, and offloading (FPSO) vessel, as part of its field life extension project offshore Canada.

about 2 years ago
Pieridae drops plans to build Goldboro LNG project in Nova Scotia
Business & Finance

Pieridae drops plans to build Goldboro LNG project in Nova Scotia

Canadian energy company Pieridae has decided to abandon plans to build the Goldboro LNG export project in Nova Scotia. In its financial and operating results for the third quarter of 2023 released on November 8, Pieridae stated it had initiated a process to sell its Goldboro subsidiary and associate

about 2 years ago
Illustration; Source: International Energy Agency (IEA)
Business & Finance

Report: Fossil fuel age not running out of gas, as production ramp-up undermines net-zero transition

A new report warns that plans to scale up fossil fuels threaten net-zero targets, derailing the transition to a sustainable future in line with the 1.5°C warming limit.

about 2 years ago