Search results
Brent Crude $CAD Prices Budget 2020 Assumption versus Daily Spot Prices and Year-To-Date (YTD) Averages Fiscal Year 2020-21 0.00 10.00 20.00 30.00 40.00
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).
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.
This report evaluates the economic impact of Newfoundland and Labrador’s offshore oil and gas industry now and projects the potential increase in economic impact in the province and across the country if the Advance 2030 production targets are achieved. Newfoundland and Labrador’s offshore oil and gas industry is:
Mar 9, 2021 · Crude oil prices reached historic lows in 2020, because of a combination of geopolitical issues and the collapse of demand during the pandemic. The monthly average crude oil and crude bitumen price index was one-third (-3 3.7%) lower in 2020 compared with 2019.
Jul 27, 2020 · PANDEMIC, GLOBAL OIL PRICE SHOCK EXTEND RECOVERY. SUMMARY. COVID-19 is expected to drive Newfoundland and Labrador’s fiscal year 2020–21 (FY21) deficit to a near-record $2.1 bn (and a record 7.3% of nominal GDP) (chart 1) according to a fiscal update released Friday.
Mar 11, 2020 · Release date: 2020-03-11. 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].
