Federal Environment Minister Steven Guilbeault formally approved the Bay du Nord offshore oil megaproject Wednesday, making a decision that will infuriate environmentalists but boost the Newfoundland and Labrador economy.
CBC News
Posts Tagged ‘Equinor’
Good news for Newfoundland – Bay du Nord project approved
Posted in Canada, Offshore Energy - General, tagged Bay du Nord, Canada, Equinor, FPSO, Newfoundland on April 6, 2022| Leave a Comment »
Disappointing delay in Canada’s decision on the Bay du Nord project
Posted in Canada, energy policy, Offshore Energy - General, tagged Andrew Fury, Bay du Nord, Equinor, Newfoundland on March 8, 2022| Leave a Comment »
A decision on the proposed Bay du Nord oil project off the coast of Newfoundland will be delayed by another 40 days, according to Federal Environment Minister Steven Guilbeault.
Ottawa’s decision for the project was set for Sunday, but was originally scheduled for Dec. 6. The 40-day delay means a decision could come by April 13.
The project has reportedly caused a division within Prime Minister Justin Trudeau’s cabinet, according to Radio-Canada, which reported in February that several Liberal ministers from Ontario, Quebec and British Columbia want to reject Bay du Nord.
CBC
The delays in Ottawa are disappointing for the following reasons:
- Recent polling indicates very strong support among Newfoundlanders for offshore oil and gas operations and the Bay du Nord project. Newfoundland Premier Andrew Fury fully supports the project.
- The Impact Assessment Agency of Canada concluded that “the Bay du Nord Development Project is not likely to cause significant adverse environmental effects, taking into account the implementation of mitigation measures.”
- Equinor is a responsible offshore operator with a strong track record in Norway and elsewhere.
- The importance of “free world” oil and gas production has never been more obvious. That will continue to be the case for the life of this project and beyond.
- The project would generate $3.5 billion in revenues to the Government of Newfoundland and Labrador and provide estimated in-province employment of 22.3 million-person hours for the life-of-field.
Norway says adios to Russia. Ditto BP. Is Exxon (Sakhalin) next? Shell?
Posted in energy policy, Norway, UK, Uncategorized, tagged bp, Equinor, Norway, Russia, UK on February 28, 2022| Leave a Comment »
On Sunday, the Norwegian government announced that its sovereign wealth fund, the world’s largest, wwould divest its Russian assets, worth around 25 billion Norwegian crowns ($2.80 billion).
Reuters
“In the current situation, we regard our position as untenable,” Equinor Chief Executive Anders Opedal said in a statement. “We will now stop new investments into our Russian business, and we will start the process of exiting our joint ventures in a manner that is consistent with our values.”
Reuters
British oil giant BP said Sunday that it is “exiting” its $14 billion stake in Russian oil giant Rosneft over Moscow’s invasion of Ukraine in one of the biggest signs yet that the Western business world is cutting ties over the Kremlin’s invasion of Ukraine.
Washington Post
Offshore gas to the rescue?
Posted in gas, natural gas, Norway, Offshore Energy - General, tagged Equinor, European energy crisis, North Sea, Norway, Oseberg on September 20, 2021| Leave a Comment »
European power prices have spiraled to multi-year highs on a variety of factors in recent weeks, ranging from extremely strong commodity and carbon prices to low wind output.
CNBC
Equinor and its partners have received permission to increase gas exports from two fields on the the Norwegian continental shelf to supply the tight European market. Production permits for the Oseberg and Troll fields have each been increased by 1 billion cubic meters (bcm) for the gas year starting 1 October.
Equinor
I hope the folks organizing the 10/28 congressional hearing are paying attention, but somehow I doubt it.
