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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.
Jul 9, 2021 · The trips have not been as frequent since 2020, the result of historically low oil prices due to the pandemic and resulting economic downturn. Last year oil prices dropped to below $20 a barrel. In Newfoundland and Labrador, the West White Rose extension project stalled, shutting down construction on a gravity-based platform at Argentia.
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 7, 2022 · Newfoundland and Labrador is betting its financial future on the hundreds of millions of barrels of oil buried off its coast. Here's what that looks like.
Mar 11, 2020 · Newfoundland and Labrador is the dominant producer of crude oil outside of western Canada, producing approximately 6% of Canada’s total production in 2019. All five of Newfoundland and Labrador’s currently producing projects and recent discoveries are offshore [PDF] .
The trips have not been as frequent since 2020, the result of historically low oil prices due to the pandemic and resulting economic downturn. Last year oil prices dropped to below $20 a barrel. In Newfoundland and Labrador, the West White Rose extension project stalled, shutting down construction on a gravity-based platform at Argentia.
Mar 2, 2023 · The $16-billion project, to be called Bay du Nord, will be majority-owned by Equinor, with BP holding a smaller stake. It comes loaded with superlatives: deepest, farthest and, as Equinor is keen...
