The Oslo-based oil producer, formerly known as Statoil, is closing its office in Calgary this month and relocating staff to St. John’s as the company refocuses future spending on its offshore oil business on the East Coast. Equinor will keep a small oil marketing and trading team in Calgary.
The company owns a minority stake in the Terra Nova, Hebron and Hibernia offshore projects in Newfoundland and Labrador in addition to operating in seven other non-producing offshore licenses in the Atlantic province. In October, the company announced it had made hydrocarbon discoveries at two wells drilled on its Cappahayden and Cambriol prospects in the Flemish Pass Basin in the Atlantic , but it did not release estimates of how much oil it could produce from the formations.
Equinor is among a handful of European oil producers including Royal Dutch Shell Plc, Total SA and BP Plc to sell its oilsands holdings and refocus its efforts elsewhere.However, it is one of the few international companies to divest from the oilsands to continue looking at additional oil projects in Canada.
Now, St. John’s has a lower unemployment rate, at 8.7 per cent in Dec. 2020 according to Statistics Canada, than Calgary where the unemployment rate sits at 10.9 per cent.
No taxes.
Well this will result in weeks of the post inappropriately making this the liberals fault (as though they dont get in bed with major corporations) and recklessly stoke wexit propaganda.
Thx Trudeau
Norway’s hydrocarbon consumption shows stark reality of energy transition – even for the filthy rich 'The challenge of reducing hydrocarbon consumption in any significant way is daunting beyond belief.'
That's kind of old news anyways. They want to focus on the Norwegian Arctic coast. Its was a big court case in Norway and they won. Maybe they add a rig on the east coast but the focus is their north. Strange how they never get flak from the greenies?
out in the ocean its out of sight out of mind !
Alberta needs to start installing windmills. Seriously. I can't see things improving any time soon.