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1. www.gov.nl.ca › fin › economicsOil Production Up 1.0% in April 2024 - Finance

   www.gov.nl.ca › fin › economics

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   Brent crude oil prices increased in May 2024, averaging US$81.75/barrel, up 8.3% from US$75.47/barrel in May 2023. The estimated value of Newfoundland and Labrador’s crude oil output is in Canadian dollars; the average Canada-US exchange rate in April 2024 stood at 73.1 cents/US dollar, compared to 74.2 cents/US dollar in April 2023.

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     For the province, on a year-to-date basis, employment...

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     Department of Finance P.O. Box 8700 Main Floor, East Block...

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     Newfoundland and Labrador’s total fertility rate was 1.22...

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     At the national level, retail sales increased by 2.7% in...

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     Department of Finance P.O. Box 8700 Main Floor, East Block...

2. www.gov.nl.ca › fin › brent-crude-trackingOil Prices – Budget Assumptions vs. Daily Brent Spot Prices

   www.gov.nl.ca › fin › brent-crude-tracking

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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.

3. www.gov.nl.ca › fin › filesFiscal and Economic Update - Government of Newfoundland and ...

   www.gov.nl.ca › fin › files

   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

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4. www.cbc.ca › news › canadaThis decade's oil boom is moving to offshore N.L. | CBC News

   www.cbc.ca › news › canada

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   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.

5. www.cer-rec.gc.ca › en › data-analysisMarket Snapshot: Offshore Newfoundland and Labrador heavy oil ...

   www.cer-rec.gc.ca › en › data-analysis

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   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.

6. www.cer-rec.gc.ca › en › data-analysisProvincial and Territorial Energy Profiles – Newfoundland and ...

   www.cer-rec.gc.ca › en › data-analysis

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   Crude Oil. In 2020, Newfoundland and Labrador’s oil production was 282.7 thousand barrels per day (Mb/d), or 5% of Canada’s overall production and 24% of Canada’s light oil production. (Figure 1).

7. People also ask

   How does Newfoundland & Labrador price gas?

   • Newfoundland and Labrador is divided into different pricing zones for fuels, which have different prices and markups depending on location as a result of the increased cost of fuel delivery. The current markup on gas on the Avalon Peninsula is 25.93 cents per litre, and proposed changes would add 0.7 cents per litre.

   PUB and province could do much more to combat rising gas prices, O'K…

   www.cbc.ca/news/canada/newfoundland-labrador/o-keefe-fuel-price-report-1.7230412

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   How much oil is produced in Canada in 2021?

   • The total assets of oil and gas extraction companies were $452.9 billion in 2021. Alberta produces over 80% of oil in Canada. 75% of Canadian crude oil is exported to the United States. Canada has seventeen oil refineries with Alberta having the largest refining capacity. Alberta and British Columbia produce 98% of Canada’s natural gas.

   Oil and Gas Industry Statistics in Canada | Made in CA

   madeinca.ca/oil-and-gas-industry-statistics-canada/

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   Will oil demand grow in 2029?

   • Oil demand growth will plateau at 105.6 million barrels per day (bpd) by 2029, the Paris-based IEA said in an annual report, before contracting slightly in 2030 as electric car use rises, efficiency improves and power generation moves away from oil.

   Oil demand set to peak by 2029, major supply glut looms, agency says

   www.ctvnews.ca/business/oil-demand-set-to-peak-by-2029-major-supply-glut-looms-agency-says-1.6923409

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   How much money does the oil & gas industry make in 2021?

   • The gross revenue of the oil and gas industry was $174 billion in 2021. The total assets of oil and gas extraction companies were $452.9 billion in 2021. Alberta produces over 80% of oil in Canada. 75% of Canadian crude oil is exported to the United States. Canada has seventeen oil refineries with Alberta having the largest refining capacity.

   Oil and Gas Industry Statistics in Canada | Made in CA

   madeinca.ca/oil-and-gas-industry-statistics-canada/

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8. energynl.ca › 2021 › 07Will Newfoundland offshore oil industry reboot with rising ...

   energynl.ca › 2021 › 07

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   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.