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   How much does oil cost in Newfoundland & Labrador?

   • The price of Brent crude oil, a benchmark for Newfoundland and Labrador oil, averaged US$41.96/barrel in 2020, down 34.7% from an average of US$64.30/barrel in 2019 (see chart). As of May 7, 2021, Brent prices stood at US$68.73/barrel.

   The Economy - Government of Newfoundland and Labrador

   www.gov.nl.ca/budget/2021/wp-content/uploads/sites/5/Economy-2021.pdf

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   What happened to oil production in Newfoundland & Labrador?

   • The estimated value of total production fell by 29.4% to $5.8 billion. The price of Brent crude oil, a benchmark for Newfoundland and Labrador oil, averaged US$41.96/barrel in 2020, down 34.7% from an average of US$64.30/barrel in 2019 (see chart).

   The Economy - Government of Newfoundland and Labrador

   www.gov.nl.ca/budget/2021/wp-content/uploads/sites/5/Economy-2021.pdf

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   Why are fuel prices rising again in Newfoundland & Labrador?

   • The costs of some fuels in Newfoundland and Labrador are on the rise again on Friday as the Public Utilities Board changed prices for the third straight day as the global oil market continues to fluctuate.

   In 2nd surprise price increase of the week, diesel, furnace and stove

   www.cbc.ca/news/canada/newfoundland-labrador/nl-oil-prices-march-25-2022-1.6397178

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   How much oil was extracted from Newfoundland & Labrador in July 2024?

   • According to the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB), approximately 6.7 million barrels of oil were extracted from offshore Newfoundland and Labrador in July 2024, representing an increase of 1.0% compared to July 2023 (see Figure 1).

   Oil Production Up 1.0% in July 2024 - Finance

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

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2. 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.

3. www.cbc.ca › news › canadaThis decade's oil boom is moving to offshore N.L. | CBC News

   www.cbc.ca › news › canada

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   Sep 1, 2022 · Producing offshore projects average a break-even price of $18.10 per barrel of oil equivalent, compared with $28.20 per barrel for onshore, according to Rystad. Other companies bought into...

4. www.gov.nl.ca › budget › 2021The Economy - Government of Newfoundland and Labrador

   www.gov.nl.ca › budget › 2021

   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

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

   www.gov.nl.ca › fin › economics

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   On a year-to-date basis, approximately 43.1 million barrels of oil were extracted from offshore Newfoundland and Labrador over the January to July 2024 period, down 4.1% compared to the same period last year. The corresponding value increased 2.6%.

6. 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. This page and all contents are copyright, Government of Newfoundland and Labrador, all rights reserved.

7. atlantic.ctvnews.ca › n-l-expects-70-millionN.L. expects $70-million windfall from surging oil prices ...

   atlantic.ctvnews.ca › n-l-expects-70-million

   Mar 15, 2022 · Newfoundland and Labrador's finance minister says her department expects about $70 million more oil revenue than forecast this fiscal year, and some of the cash will be used to help...

8. www.cbc.ca › nl-oil-prices-march-25/2022/1In 2nd surprise price increase of the week, diesel, furnace ...

   www.cbc.ca › nl-oil-prices-march-25/2022/1

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   Mar 25, 2022 · Home heating oil is up another 11.51 cents per litre, about 25 cents on the week. The northeast Avalon is set at $1.65 per litre, central Newfoundland is $1.69, Corner Brook area is $1.66 ...