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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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     The labour force in Newfoundland and Labrador increased by...

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

   • Demographic Overview

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

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     The highest gains were in Prince Edward Island (+13.3%), the...

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

2. 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.

3. www.nationalobserver.com › 2022/09/12 › analysisWhy Newfoundland and Labrador is going all-in on offshore oil

   www.nationalobserver.com › 2022/09/12 › analysis

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   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.

4. 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.

5. 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.

6. www.pub.nl.ca › PP_petroleumproductsBoard of Commissioners of Public Utilities

   www.pub.nl.ca › PP_petroleumproducts

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   Excluding Applicable Taxes. Propane. Base Zone. 101.9. Excluding Applicable Taxes. Current Maximum Pricing: Motor Fuel - Heating Fuel. Maximum Pricing All Zones. 2022-23 Petroleum Products Pricing Review. How Maximum.

7. People also ask

   How much does oil cost in Newfoundland & Labrador?

   • The price of Brent crude oil, a benchmark for Newfoundland and Labrador oil, averaged US$41.96/barrel in 2020, down 34.7% from an average of US$64.30/barrel in 2019 (see chart). As of May 7, 2021, Brent prices stood at US$68.73/barrel.

   The Economy - Government of Newfoundland and Labrador

   www.gov.nl.ca/budget/2021/wp-content/uploads/sites/5/Economy-2021.pdf

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   How much did crude oil cost in 2020?

   • The price of Brent crude oil averaged US$41.96/barrel in 2020, down 34.7% from an average of US$64.30/barrel in 2019. ► The 2020 Calls for Bids in the eastern Newfoundland region resulted in a successful bid on one parcel of land totalling $27 million.

   The Economy - Government of Newfoundland and Labrador

   www.gov.nl.ca/budget/2021/wp-content/uploads/sites/5/Economy-2021.pdf

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   Why is Newfoundland investing so much in offshore oil?

   • To understand why the province is investing so heavily in offshore oil at a time when the world recognizes the need to end the reliance on fossil fuels, it helps to rewind to March 2020. As COVID-19 was spreading, an oil price war between Saudi Arabia and Russia hit Newfoundland and Labrador hard.

   Why Newfoundland and Labrador is going all-in on offshore oil

   www.nationalobserver.com/2022/09/12/analysis/why-newfoundland-and-labrador-going-all-offshore-oil

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   What happened to oil production in Newfoundland & Labrador?

   • The estimated value of total production fell by 29.4% to $5.8 billion. The price of Brent crude oil, a benchmark for Newfoundland and Labrador oil, averaged US$41.96/barrel in 2020, down 34.7% from an average of US$64.30/barrel in 2019 (see chart).

   The Economy - Government of Newfoundland and Labrador

   www.gov.nl.ca/budget/2021/wp-content/uploads/sites/5/Economy-2021.pdf

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8. www.gov.nl.ca › budget › 2021The Economy - Government of Newfoundland and Labrador

   www.gov.nl.ca › budget › 2021

   The The price of Brent crude oil averaged US$41.96/barrel in 2020, down 34.7% from an average of US$64.30/barrel in 2019. The 2020 Calls for Bids in the eastern Newfoundland region resulted in a successful bid on one parcel of land totalling $27 million. Mineral shipments were valued at $4.4 billion in 2020, an increase of 17.3% over 2019.