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Commodity Pricing

Noia Questions Provincial Parties on Offshore Oil & Gas Policies

As a provincial general election is scheduled for May 16, 2019, Noia has issued a letter to the leaders of the four political parties seeking their position on the Newfoundland and Labrador offshore oil & gas industry.

In the context of Noia’s Imagine the Potential campaign and the facts released through its industry economic impact report, Noia believes it is imperative for the political parties to provide information on how they will ensure the industry is able to reach its potential and provide significant benefits to all Newfoundlanders and Labradorians.

Noia has requested the parties provide their policy approach to three topics of critical importance to the supply and service sector:

  • The Atlantic Accord – how they will guarantee the legislated rights in the Atlantic Accord of “full and fair opportunity” and “principal beneficiary” will be upheld.
  • life-of-field benefits – how life-of-field benefits will be achieved in benefits agreements for future offshore projects.
  • internationally competitive regulatory regime – how they will ensure the Newfoundland and Labrador offshore oil & gas industry is globally competitive.

While the questions are deliberately broad to allow parties the opportunity to provide their responses, Noia encourages detailed information within the responses to help Noia members make informed decisions.

Noia’s letter is available on www.noia.ca and responses will be posted as received. The letter is attached for reference.