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May 29, 2023 · But with experts — and even oil companies — projecting global demand for oil will begin to fall as early as 2030, how long will the rebound last? The Newfoundland and Labrador oil sector is...
Jul 9, 2021 · Then there’s price uncertainty because the Organization of the Petroleum Exporting Countries (OPEC) is considering an increase in production. Still, Barnes said even if OPEC decides to increase production, causing a price drop, a price of around $50 to $70 a barrel is still profitable for producers.
Feb 21, 2023 · As the COVID-19 pandemic sent oil prices plumeting to historic lows, emails show Newfoundland and Labrador was quietly bracing for two of its offshore oilfields to be abandoned by their...
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.
Feb 21, 2023 · As the COVID-19 pandemic sent oil prices plumeting to historic lows, emails show Newfoundland and Labrador was quietly bracing for two of its offshore oilfields to be abandoned by their...
Mar 15, 2022 · JOHN'S, N.L. - Newfoundland and Labrador's finance minister says her department expects about $70 million more oil revenue than forecast this fiscal year, and some of the cash will be used to...
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What happened to oil prices in Newfoundland & Labrador?
Why is Newfoundland investing so much in offshore oil?
Will Newfoundland & Labrador get more oil revenue?
Will Newfoundland and Labrador double offshore oil production by 2030?
Sep 12, 2022 · As COVID-19 was spreading, an oil price war between Saudi Arabia and Russia hit Newfoundland and Labrador hard. The price of oil plummeted, creating a crisis for Canada’s easternmost province, which is heavily reliant on oil revenue to pay for services for its population of about 520,000.
