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Commodity Pricing

Noia Questions Federal Parties on Offshore Oil & Gas Policies

(St. John’s, NL – October 8, 2019) With a federal general election scheduled for October 21, 2019, Noia has issued a letter to five national 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 data 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 and Canadians.

Noia has requested the parties provide their policy approach to important topics for the service and supply sector of the offshore oil & gas industry, including:

  • The Atlantic Accord – how will the party ensure the principle of joint management of the offshore is strengthened and ensure “full and fair opportunity” and “principal beneficiary” provisions are upheld?
  • Internationally Competitive Regulatory Regime – will exploratory wells be removed from the Impact Assessment Act designated project list, will regulations be in place to allow the offshore industry to be globally competitive, and what measures will be undertaken to support supply chain development?

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

Noia’s letter is available here.  Parties have been asked to respond by October 11, 2019.

Founded in 1977, Noia represents approximately 600 member organizations worldwide which are involved in, or benefit from, the oil & gas industry of Newfoundland and Labrador. Noia members are a diverse representation of businesses that range from offshore supply boats and helicopters to health and safety equipment and training, engineering solutions and fabricators to bakeries and hotels.

Responses received from the federal parties: