Demand Pickup Drives Restart of Canada East Coast Oil Projects

Abstract

Cenovus Energy Inc. and Suncor are resuming work on the West White Rose off-shore drilling platform. Norwegian oil and energy giant Equinor said it has won approval from federal officials in Canada for the estimated $9-billion, or more, Bay du Nord project. The project will use a floating structure instead of a platform to produce, store and off-load oil. The West White White Rose is expected to hit 60,000 barrels per day. The project is scheduled to hit peak production by the end of the decade. It is set to hit 80,000 Barrels of oil by end of this year.