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Newfoundland and Labrador’s offshore oil and gas industry is: • An important driver of economic activity and tax/royalty revenue for the province including contributing 23 percent of provincial gross domestic product (GDP) in 2017, supporting 23,509 jobs (direct, indirect and induced),
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.
Jan 9, 2024 · The Newfoundland and Labrador government is considering selling its stakes in the offshore oil industry, including a 4.9 per cent equity stake in the Hebron project. (Paul Daly/The Canadian...
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 ...
The company announced a $6.8 billion plan in 2018 to develop Bay du Nord but deferred the project last year thanks to COVID and the crash in oil prices. Barnes said he expects the company could make an announcement on Bay du Nord by early 2022.
Mar 11, 2020 · Heavy oil production from this project accounted for 43% of Newfoundland and Labrador’s production in 2019, up from 27% in 2018. Figure 1. Crude oil production trend for offshore Newfoundland and Labrador from 2010 to the end of 2019
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Crude Oil Prices. The following is a listing of the department’s crude oil reports in PDF format. 2013. 2012. 2011. 2010. 2009.
