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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.
Sep 1, 2022 · BP PLC purchased a Bay du Nord stake and Cenovus Energy restarted a stalled project. Global offshore investment should rise 27 per cent from 2021 levels to $173 billion in 2024, reversing a...
Oil and Gas Corporation of Newfoundland and Labrador 2021 Annual Performance Report. The OilCo Board is encouraged by your continued support of the oil and gas industry in our province and recognition of the economic value this sector brings to Newfoundlanders and Labradorians.
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 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.
Oil production increased by 8.9% to 104 million barrels, as higher output from Hebron, Hibernia and White Rose offset declines from Terra Nova. The estimated value of production fell by 29.4% to $5.8 billion, due to lower prices of oil. well as salmonid mortality events. The The price of Brent crude oil averaged
Newfoundland and Labrador’s remaining resource base for crude oil is estimated to be 2.26 billion barrels as of 2021. The Canada-Newfoundland and Labrador Offshore Petroleum Board ( C-NLOPB ) is the independent regulatory agency created in 1986 under the Atlantic Accord Implementation Acts with a mandate that includes offshore safety ...
