Canadian Natural Resources News

Allseas’ heavy lift vessel Pioneering Spirit has completed a removal campaign of processing and accommodation topsides and flare jackets as part of the Tyra Redevelopment Project for Total E&P Denmark. "Over the last two weeks, Pioneering Spirit removed more than 27,000 tonnes of platform facilities from the North Sea’s Tyra gas field, transporting the structures to specialist yards in Denmark and the Netherlands for recycling," Allseas said Monday.The final two structures, flare jackets…

A latest research revealed that the upstream sector accounted for the bulk of mergers and acquisitions (M&A) in the global oil and gas industry in 2019, generating some high-value transactions during the process.According to GlobalData's theme report, ‘M&A in Oil and Gas – 2020’, the acquisition of Anadarko Petroleum by Occidental Petroleum in April 2019 for a purchase consideration of US$57bn was the highlight of oil and gas M&A activity last year, says GlobalData, a leading data and analytics company.Ravindra Puranik, Oil & Gas Analyst at GlobalData, said: “In 2019, the upstream sector, more specifically the US shale plays, witnessed the highest deal activity in the oil and gas industry.

Global Natural Gas Liquid Market is poised to cross 14 million barrels per day by 2025, said a study.Japan natural gas liquid market is projected to surpass an annual consumption of 0.2 mbl/day said the latest study by Global Market Insights.Accelerating funding’s toward chemical industry along with the manufacturing of high value-added petrochemicals will augment the industry growth.In addition, up-surge in investments toward automotive sector coupled with expansion of various industrial base including manufacturing, refineries and chemicals will positively impact the product penetration.The U.S. natural gas liquid market is set to…

Africa Energy Corp., an oil and gas company with exploration assets offshore South Africa and Namibia, has announced the start of a new 3D marine seismic acquisition programme over the Paddavissie Fairway on Block 11B/12B offshore South Africa.The Brulpadda discovery is located on Block 11B/12B in the Outeniqua Basin 175 kilometers off the southern coast of South Africa. The block covers an area of 19,000 square kilometers with water depths ranging from 200 to 1,800 meters.Jan Maier, Africa Energy's VP Exploration, said:  "We are pleased to announce the initiation of a 3D seismic program with Polarcus to better define prospects within Block 11B/12B offshore South Africa.

India is considering importing liquefied natural gas from Canada towards meeting its requirements, the petroleum ministry said. Petroleum Minister Dharmendra Pradhan met Canadian Natural Resources Minister Greg Rickford to discuss enhancing energy cooperation between the two countries, a statement said. Moving forward, Canada could potentially supply a significant amount of the 44 billion cubic metres of natural gas that India is forecasted to import annually by 2025. Two Indian companies are currently invested in projects in Canada being proposed by Pacific NorthWest LNG and A C LNG stands in the statement. The two Ministers discussed enhancing energy cooperation between the two countries in the areas of oil…

President Barack Obama's sharpest criticism yet of Keystone XL this weekend included a controversial contention that the huge pipeline would be used to pump Canadian oil sands crude to global markets, not to U.S. refiners. TransCanada Corp., the pipeline giant that has been waiting six years for U.S. approval to build the $8 billion line, strongly denies it and says it is constructing the 1,179-mile (1,900-km) conduit only to serve import-dependant Gulf Coast refiners, weaning them away from supplies of heavy crude from Saudi Arabia and Venezuela. The truth, experts say, lies somewhere in between. The 830,000-barrel-per-day (bpd) pipeline helping link Canada's oil sands to the Gulf Coast was conceived six years ago to supply U.S. customers. Since then, however, the U.S.

S.Africa wants 30 wells drilled in next 10 years; Total woes a setback to S.Africa exploration drive. French energy major Total has halted oil exploration off the southern coast of Africa due to mechanical problems with a rig, meaning it will not be able to resume searching in the area before 2016, a company official said on Tuesday. The news is a huge setback to South Africa's plans to have 30 exploration wells drilled in the next 10 years as the continent's most advanced economy strives to reduce its heavy reliance on imported oil. "Offshore repair was not possible," Guy Maurice, the company's senior vice-president for exploration and production in Africa, told delegates at an Africa oil and gas conference organised by Global Pacific & Partners.

AF Group's wholly owned subsidiary, AF Decom Offshore UK Limited, has in a consortium with Heerema Marine Contractors Nederland SE (Heerema AF Consortium), entered into an agreement with CNR, Canadian Natural Resources International (UK) Limited for decommissioning of the Murchison platform in the UK North Sea. MoU includes a major contract for engineering, preparatory, removal and recycling (EPRD) of both tires and steel foundations, in all, a combined weight of more than 37,000 tons. The agreement requires the initiation of engineering work immediately after signing the contract, while the offshore works will start early in 2016 abandonment and dismantling work will continue until 2020.

Canadian Natural Resources Ltd said on Thursday its Tiffany production platform in the North Sea was expected to restart in mid-August after a shutdown. On a second-quarter earnings call, CNRL Chief Executive Officer Steve Laut said international production had decreased to 25,800 barrels per day in the quarter. That was mainly due to the production shutdown at Tiffany, which accounted for 4,500 bpd. (Reporting by Nia Williams; Editing by Lisa Von Ahn)

Six years after applying to build the Keystone XL pipeline, Canada's frustrated oil industry appears steadfast in its support of the plan even though Washington has again delayed a decision on whether to approve the politically charged project. The reason is simple: A massive new pipeline to the U.S. Gulf Coast remains the most elegant solution for producers looking to export burgeoning supplies of crude from Canada's oil sands to the United States. TransCanada Corp's $5.4 billion pipeline would seamlessly pump enough crude from Alberta to Texas to meet 4 percent of total U.S. demand. "We're definitely supportive of the project," said Brad Bellows, a spokesman for MEG Energy Corp, which produces crude from Alberta's oil sands though it has not committed to ship on Keystone.

Canada's largest & most diverse port releases its 2012 mid-year results, posting growth of 6% overall. The 2012 mid-year statistics report shows that Port Metro Vancouver handled 62.3 million tonnes of cargo through the end of June and is on track for another strong year. The half-year throughput volumes reflect the success of Port Metro Vancouver's collaborative approach with our senior government partners, terminal operators, shippers and land transport logistics suppliers to improving sustainability, capacity and efficiency. Total foreign tonnage at Port Metro Vancouver posted a six per cent increase with 49 million tonnes. Total domestic tonnage increased by six per cent to 13.3 million tonnes.

Analytic Systems has released new lower 2011 pricing for industrial application AC source battery chargers, AC/DC power supplies, DC/AC PureSine and Quasi-Sine inverters. Analytic Systems provides high performance power conversion products to a variety of industrial users like the commercial marine, utility vehicle, mining, bus and rail, oil and gas, telecom, alternative energy, etc due to their high reliability and rugged designs. Analytic Systems is looking to bring on new resellers…

BMT Cordah won a contract by Canadian Natural Resources International (CNRI). This project will see BMT provide vital support and guidance for the environmental aspects during two of CNRI’s decommissioning projects, both of which are currently in the planning and consenting phase. CNRI’s Murchison and Ninian Northern fields located in the northern North Sea have both been in operation since the early 1980’s. To ensure compliance with the requirements of key legislation and regulations set out by the UK Department of Energy and Climate Change (DECC)…

U.S. oil prices slid for the second straight day on March 9 as traders speculated on the size of a widely-expected supply cut by the OPEC producer cartel next week. On the New York Mercantile Exchange (NYMEX) crude oil for April delivery settled 38 cents lower at $28.01, little changed over the week. Traders turned cautious as a Saudi official said that though the oil producers' cartel was heading toward its second production cut this year when it meets next week, the magnitude of the cut remained undecided. Market estimates of the likely supply reduction range from 500,000 to a million barrels bpd out of the group's current 25.2 million bpd supply quotas. Despite the fall, traders said the market's outlook remains bullish as U.S.

Willbros Group, Inc. announced that business units in Canada, the United States, the Middle East and West Africa have been awarded multiple projects valued in excess of $175 million. Willbros MSI Canada Inc. (Willbros Canada) has been awarded a contract for the fabrication of process modules by Canadian Natural Resources Limited (CNRL). The modules will be fabricated in Edmonton, Alberta at Willbros Canada's new 90,000 square foot fabrication facility which was readied for service over the past year. The contract will run through the third quarter of 2006 and anticipates the follow-on services to erect, install and commission the modules at CNRL's Horizon Oil Sands Project. In the United States, Willbros RPI, Inc.

The British government, struggling to erase its deficit, is doubling the surtax for North Sea oil and gas companies, a move that surprised an industry expecting an increase half that size, according to a Globe and Mail report. The proposed increase in the supplementary tax for North Sea energy companies is for 20 percent of income from the current 10 percent, with the change expected to cost the industry the equivalent of $13-billion over the next three years. The move affects several Canadian energy companies with North Sea assets, including Canadian Natural Resources Ltd., Nexen Inc., Petro-Canada and Talisman Energy Inc. According to the report…

Fred Olsen Energy has signed a contract for the Floating Production Storage Offloading (FPSO) vessel Petróleo Nautipa, which is owned and operated by a joint venture between Fred. Olsen Energy ASA and Prosafe ASA. The contract signed with the Houston based oil company Vaalco Gabon (Etame) Inc. has an approximate value of $30 million, and is initially for two years with options for Vaalco Gabon (Etame) Inc. to extend for up to three more years. The FPSO is currently under contract with Canadian Natural Resources in Angola, and is expected to demobilise from its current location during the summer of 2002, where it will be taken to a shipyard for necessary upgrading before being installed on the Etame Field offshore Gabon by September 2002.