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What happened to oil prices in Newfoundland & Labrador?
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How much oil did Newfoundland & Labrador produce in March 2024?
Will Newfoundland and Labrador double offshore oil production by 2030?
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 · 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.
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...
Oil Production Up 1.0% in April 2024. According to the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB), approximately 6.6 million barrels of oil were extracted from offshore Newfoundland and Labrador in April 2024, representing an increase of 1.0% compared to April 2023.
Sep 1, 2022 · Global offshore investment should rise 27 per cent from 2021 levels to $173 billion in 2024, reversing a decade of decline and growing slightly faster than onshore investment, Rystad estimates.
This map outlines Equinor's offshore assets in Newfoundland and Labrador. — EQUINOR - File photo. Then there’s price uncertainty because the Organization of the Petroleum Exporting Countries (OPEC) is considering an increase in production.
Jan 4, 2021 · Looking ahead to 2021, Amons expects the outlook for refining will improve, particularly towards the second-half of the year as more people receive the coronavirus vaccine. With that would come increased business travel and leisure activities, leading to increased demand for refined oil products.
