Search results
Budget assumptions versus daily Brent spot prices and year-to-date (YTD) averages. Fiscal Year. Note: The daily Brent spot prices are the daily Brent closing spot prices from the U.S. Energy Information Administration.
Oil Production Up 1.0% in April 2024. According to the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB), approximately 6.6 million barrels of oil were extracted from offshore Newfoundland and Labrador in April 2024, representing an increase of 1.0% compared to April 2023.
Mar 11, 2020 · Production has steadily increased since then, reaching 309 112 b/d in December 2019, of which 188 128 b/d was light oil, and 120 984 was heavy oil. Several project expansions, and large discoveries of crude oil have been recently announced in various areas offshore on Newfoundland and Labrador.
On a year-over-year basis, the Consumer Price Index (CPI) was 0.9% higher in the first nine months of 2019 (see chart). Lower prices for fuel oil (down 3.8%) and gasoline (down 6.1%) moderated the overall increase in the CPI. Both fuel oil and gasoline have been impacted by a decline in crude oil prices. Electricity prices
Sep 12, 2022 · The oil sector has paid, on average, $1.3 billion each year to the province since 2004, but that amount has been trending down in recent years, coming in at $532 million in 2020-21. At a time when the world recognizes the need to end the reliance on fossil fuels, Newfoundland and Labrador is planning to double offshore oil production by 2030.
Sep 1, 2022 · Producing offshore projects average a break-even price of $18.10 per barrel of oil equivalent, compared with $28.20 per barrel for onshore, according to Rystad. Other companies bought into...
End-use demand in Newfoundland and Labrador was 180.6 petajoules (PJ) in 2019. The largest sector for energy demand was industrial at 43% of total demand, followed by transportation at 34%, residential at 15%, and commercial at 8% ( Figure 4 ).
