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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.
Oct 19, 2023 · Furnace oil increased by over 5.4 cents per litre, raising prices to between $1.37 and $1.55 per litre in Newfoundland. Stove oil increased by over 7.2 cents per litre across much of the...
Dec 12, 2023 · The PUB lowered the price of furnace oil across the province by 7.94 cents per litre and lowered the price of stove oil in Newfoundland only by 6.73 cents per litre.
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.
Jul 9, 2021 · Plans for a refit were delayed while a task force of government and industry assessed how best to spend the $320 million provided by Ottawa last fall to aid the offshore oil industry. Now there are signs of a turnaround. This week the value of Brent Crude surged to a six-year high of $76 a barrel.
Oct 19, 2022 · Record oil prices are projected to bring in $375 million more in royalties this fiscal year compared to what was budgeted in April.
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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.
