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  1. www.gov.nl.ca › fin › brent-crude-trackingOil Prices – Budget Assumptions vs. Daily Brent Spot Prices

    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.gov.nl.ca › fin › filesFISCAL UPDATE 2020-21 - Government of Newfoundland and Labrador

    • Plus or minus $1US in oil price would result in an increase or decrease of approximately $18.5 million in oil royalties. • Plus or minus 1 cent in CAD to US exchange rate would result in a decrease or increase of

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

    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.

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

    Mar 11, 2020 · 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] .

  5. atlantic.ctvnews.ca › wildly-swinging-oil-pricesHow Newfoundland can gain from shifting gas prices | CTV News

    Feb 21, 2023 · As the COVID-19 pandemic sent oil prices plummeting to historic lows, emails obtained by The Canadian Press show Newfoundland and Labrador was quietly bracing for two of its offshore...

  6. www.scotiabank.com › ca › enNewfoundland and Labrador: 2020–21 Fiscal Update | Post

    Jul 27, 2020 · PANDEMIC, GLOBAL OIL PRICE SHOCK EXTEND RECOVERY. SUMMARY. COVID-19 is expected to drive Newfoundland and Labrador’s fiscal year 2020–21 (FY21) deficit to a near-record $2.1 bn (and a record 7.3% of nominal GDP) (chart 1) according to a fiscal update released Friday.

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  8. www.saltwire.com › atlantic-canada › businessWill Newfoundland offshore oil industry reboot ... - SaltWire

    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.