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Commodity Pricing

Province Continues Lobbying for Offshore Supports

The provincial government is still seeking incentives to help stimulate exploration in the Newfoundland offshore.

This week the federal government announced that offshore exploration wells will be moved to a regional environmental assessment process through the impact assessment agency, greatly reducing the amount of time for approval.

That still falls short of the incentives those in the industry have been calling for.

Natural Resources Minister Siobhan Coady says they’re continuing to lobby Ottawa for greater assistance for the local industry.

She claims they have been “advocating strongly” to assist with the financial liquidity of projects and ways to accelerate production.

Source: VOCM News | This text was excerpted from the media outlet cited on June 6, 2020 and is provided to Noia members for information purposes only. Any opinion expressed therein is neither attributable to nor endorsed by Noia.