Oilsands news
Spud of Cambozola exploration well
Resources for the entire Cambozola prospect have been estimated at 159 million boe.
New investment expands Express engineering’s welding capabilities
UK-based oil and gas subsea equipment specialist Express Engineering has announced a six-figure investment in new precision welding equipment and capabilities as it expands its sector operations to support customers.
New oil and gas discovery by the North Sea Troll and Fram area
Based on preliminary estimates the size of the discovery is between 25-50 million bbl of recoverable oil equivalent.
Siemens Energy to supply topsides turbomachinery scope for Búzios 6 FPSO project
Siemens Energy will supply both the power generation and compression packages for the Petrobras-operated P-78 FPSO.
Suncor to assume Syncrude operatorship by end of 2021
The Syncrude joint venture has agreed in principle that Suncor will become the operator of the Syncrude oil sands project in Alberta, Canada, by the end of 2021.
Oil falls as Covid-19 puts demand on hold while supply keeps on calling
Oil prices fell on Tuesday on concerns that a rise in Covid-19 infections globally will halt oil demand, leaving the increasing supply from August unused.
Rystad Energy: Covid-19 to reduce world’s recoverable oil by 282 billion bbl
Rystad Energy has released its annual global energy outlook, which claims that the Covid-19 downturn will expedite peak oil demand.
Global upstream investments set for 15-year low, predicts Rystad Energy
Global spending is forecasted to reach US$383 billion this year, the lowest level in 15 years and a 29% decrease of US$156 billion compared to 2019.
Rystad Energy: Canada's upstream industry has highest CO2 emission intensity, Norway lowest
Norway's CO2 intensity per produced boe in 2018 was approximately 7 kg compared to Canada's 39 kg/boe, according to a report by Rystad Energy.
Canada's upstream spending set for 41% y/y decline
Rystad Energy expects total 2020 Canadian upstream spending to fall below CAN$21 billion.