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Budget assumptions versus daily Brent spot prices and year-to-date (YTD) averages Fiscal Year 2022-23 2021-22 2020-21 2019-20 2018-19 2017-18 2016-17...
If the goal is achieved, by 2033, Newfoundland and Labrador’s offshore oil and gas industry has the potential to: • Increase total employment supported by the industry across the province to 56,000 jobs (direct, indirect and induced); boost labour income across the province to $4.6 billion per year; increase consumer spending to
May 29, 2023 · Tom Green, a senior climate policy advisor at the David Suzuki Foundation, said the Newfoundland and Labrador government, which will spend $13 million this year on seismic work in a bid to lure ...
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]. Newfoundland and Labrador is also the only ...
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.
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.
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Sep 12, 2022 · The oil sector has paid, on average, $1.3 billion each year to the province since 2004, but that amount has been trending down in recent years, coming in at $532 million in 2020-21. At a time when the world recognizes the need to end the reliance on fossil fuels, Newfoundland and Labrador is planning to double offshore oil production by 2030.
