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1. 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.

2. www.cer-rec.gc.ca › en › data-analysisMarket Snapshot: Offshore Newfoundland and Labrador heavy oil ...

   www.cer-rec.gc.ca › en › data-analysis

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   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].

3. www.gov.nl.ca › iet › energyCrude Oil Prices - Industry, Energy and Technology

   www.gov.nl.ca › iet › energy

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   Crude Oil Prices. The following is a listing of the department’s crude oil reports in PDF format. 2013.

4. energynl.ca › 2021 › 07Will Newfoundland offshore oil industry reboot with rising ...

   energynl.ca › 2021 › 07

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   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.

5. www.cer-rec.gc.ca › en › data-analysisProvincial and Territorial Energy Profiles – Newfoundland and ...

   www.cer-rec.gc.ca › en › data-analysis

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   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 ).

6. www.gov.nl.ca › fin › economicsOil Production Up 1.0% in April 2024 - Finance

   www.gov.nl.ca › fin › economics

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   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.

7. People also ask

   What happened to oil prices in Newfoundland & Labrador?

   • 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. The floating production, storage and offloading vessel Terra Nova has been at anchor at Bull Arm since last summer.

   Will Newfoundland offshore oil industry reboot with rising ... - Energy NL

   energynl.ca/2021/07/will-newfoundland-offshore-oil-industry-reboot-with-rising-oil-prices/

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   How much oil did Newfoundland & Labrador produce in March 2024?

   • Approximately 5.9 million barrels of oil were extracted from offshore Newfoundland and Labrador in March 2024, nearly on par (-0.3%) with the production level of March 2023. The corresponding value of production increased by 7.6%.

   Oil Production Down 0.3% in March 2024 - Finance

   www.gov.nl.ca/fin/economics/eb-oil/

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   Does Newfoundland & Labrador produce oil?

   • Newfoundland and Labrador is also the only Atlantic Canada province currently producing oil. Until recently, all production in Atlantic Canada has been light oil, with similar characteristics to Brent crude oil which is produced offshore in the North Sea between the United Kingdom and Norway.

   Figure 1. Crude oil production trend for offshore Newfoundland and

   www.cer-rec.gc.ca/en/data-analysis/energy-markets/market-snapshots/2020/market-snapshot-offshore-newfoundland-labrador-heavy-oil-production-helps-increase-total-crude-production-levels-last-seen-in-2009.html

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   Will Newfoundland oil be a key to the energy transition?

   • The provincial government has long argued that even if oil demand declines as projected, Newfoundland oil will be critical to the energy transition because less carbon is emitted during its production. Carter said that logic ignores the fact that the vast majority of pollution is produced during combustion.

   Hit hard by the pandemic, N.L.'s oil sector is on the rebound — but how

   www.cbc.ca/news/canada/newfoundland-labrador/oil-surge-newfoundland-future-sector-1.6857767

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8. www.cbc.ca › news › canadaHit hard by the pandemic, N.L.'s oil sector is on the rebound ...

   www.cbc.ca › news › canada

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   May 29, 2023 · The Newfoundland and Labrador oil sector is on the upswing. Projects threatened by the pandemic are back online. Construction and exploration work is accelerating.