Connect with us

Business

$320-Million Federal Funding Slated to Support Offshore NL – VOCM

Published

 on


The federal government has announced $320-million to support jobs and investment in the offshore industry hard-hit by the pandemic and a drop in global oil prices.

The industry employs some 6,000 people directly and thousands more in supporting industries. It contributed more than $22-billion in royalties to the province to the end of 2019.

Federal Natural Resources Minister Seamus O’Regan made the announcement this afternoon at the Johnson GEO Centre.

O’Regan says the goal is to develop what he calls a “clean tech hub” for Canada and to ensure a sustainable future for the Newfoundland and Labrador offshore, which produces lower-emitting oil.

A task force, co-chaired by Bill Fanning and Karen Winsor, will be formed to make recommendations on how to spend the funding.

The Newfoundland and Labrador offshore will reach the 2-billion barrel mark this weekend, according to Avalon MP Ken McDonald.

The Canadian Association of Petroleum Producers says they are hopeful today’s announcement will make a difference, but say it’s lacking in detail as operators make investment decisions in the coming weeks and months.

In a statement released this afternoon, CAPP says the situation facing the industry is “dire” with thousands of jobs and projects at risk.

CAPP says more detail is needed to determine if the support will actually help operators overcome the “critical challenges they’re facing.”

PC Leader Ches Crosbie says he is angry, and there was nothing in today’s announcement to put people back to work.

Meanwhile, NOIA is welcoming today’s money from the federal government towards the oil and gas sector.

CEO Charlene Johnson says the focus now must be how we can use that money to advance the industry and maximize its potential. They plan to work with the province to grow that money into an even bigger pot of money to help create a sustainable industry.


Correction: An earlier version of this story indicated that Brendan Paddick would be involved with a task force on today’s funding—however, he will act as chair of the team on rate mitigation discussions. VOCM News regrets the error.

Let’s block ads! (Why?)



Source link

Business

Questions remain regarding Alberta's new COVID-19 testing pilot: expert – CBC News

Published

 on


[unable to retrieve full-text content]

  1. Questions remain regarding Alberta’s new COVID-19 testing pilot: expert  CBC News
  2. Here’s what’s coming to CBC Gem in November 2020  MobileSyrup
  3. Friday 4 pm COVID-19 update  KMBC 9
  4. New clashes in Caledonia land dispute in Ontario  CBC.ca
  5. CBC News: The National |Ontario Long Term Care COVID-19 Commission’s recommendations | Oct. 23, 2020  CBC News: The National
  6. View Full coverage on Google News



Source link

Continue Reading

Business

COVID outbreaks reported at Jasper Park Lodge, Calgary Superstore and long-term care facility – CTV Toronto

Published

 on


CALGARY —
Jasper Park Lodge is doing a deep clean of the entire hotel and doing “extensive contact tracing” after seven employees tested positive for COVID-19.

Officials say none of the employees who tested positive have been at the hotel for the past seven days or more.

“Alberta Health Services has confirmed that no hotel guests or visitors have been impacted,” read a statement from the company.

“Health officials advise that risk of transmission is low for those who have not been in close contact with these individuals.”

That is one of six outbreaks announced by the province on Friday.

Two new outbreaks were announced in Calgary, one at Revere Mount Royal Long Term Care Home, where 19 cases are active, and at the Real Canadian Superstore in the 3600 block of Westwinds Drive N.E., which has 11 cases.

Six cases were reported at Abstract Dance Academy in Chestermere, all of which have now recovered, and there are 14 cases at the RCMP detachment in Grande Prairie, which are all active.

And there are 15 active cases at the New Life Pentecostal Church in Lethbridge.

An ongoing outbreak at Foothills hospital in Calgary also saw three more healthcare workers test positive.

The province announced 432 new cases of the coronavirus on Friday, which brought the number of active cases in Alberta to 3,651.

Daily and active tallies have set pandemic highs for three and five days straight, respectively.

The bulk of Alberta’s active infections are still in the Edmonton zone with 1,751 cases, but the Calgary zone is closing in on the capital region with 1,307 cases.

Let’s block ads! (Why?)



Source link

Continue Reading

Business

Moderna gets 30000 patients for final stage of vaccine trial – BNN

Published

 on


Moderna Inc. has completed enrollment of its 30,000 participants in its final-stage COVID-19 trial, while more than 25,000 volunteers have received their second shot.

The announcement on Thursday is another indication that vaccine trials are moving into their home stretch. Moderna has said it could get an initial readout on whether the vaccine works by late November. The drugmaker is only slightly behind Pfizer Inc., which is working with German biotech BioNTech SE and expects results from its 44,000-person trial as soon as the end of this month.

Moderna shares rose as much as 4.4 per cent on Thursday morning in New York. This year, the stock has more than tripled in value.

Moderna had slowed trial enrollment in September in order to recruit more minorities, a key goal of U.S. health officials. Overall, 37 per cent of volunteers in the trial come from communities of color, the company said. Also, 42 per cent of are at high risk of developing severe cases of Covid-19, either because they are 65 or older or have pre-existing conditions.

Both Moderna and Pfizer say they won’t submit for an emergency-use authorization until they have collected two months of safety data on the participants. That means that even if Pfizer gets positive initial results this month, it won’t submit for an emergency authorization until after it gets the safety results in the third week of November.

Let’s block ads! (Why?)



Source link

Continue Reading

Trending