Since its entry into Confederation in 1949, Newfoundland and Labrador’s dependence on natural resources has left the province with a boom-and-bust economy characterized by short spurts of spectacular growth followed by protracted periods of gloom. Yet, a much-anticipated report on struggling Newfoundland’s fiscal future insists that doubling down on resource development is the only way
The Canadian government is backing commercialisation of a floating wind-powered drilling concept developed by sector pioneer Saitec and Newfoundland-based consultancy Waterford Energy Services (WES) that could be used to cut greenhouse gas (GHG) emissions from oil and gas operations off the country’s maritime provinces. The concept, being funded from a C$24.4 million ($20 million) pot [&hell
Moya Greene’s PERT report envisions a ‘green economy,’ but oil is still very much on the agenda All kinds of bonfires erupted Thursday, almost as soon as Moya Greene released a report that wrote a prescription for Newfoundland and Labrador’s dismal fiscal health. Unions fear job losses, students are angry over recommended post-secondary cuts, employers […]
OPINION: News that Suncor Energy could abandon its Terra Nova oilfield offshore eastern Canada has put government officials in the Newfoundland & Labrador provincial capital of St John’s on edge. The upstream sector is a major economic contributor to the province, but has been treading water for a year due to low oil prices, Covid-19 […]
(St. John’s, NL – May 6, 2021) Please find below a statement from Noia CEO Charlene Johnson on the Premier’s Economic Recovery Team report. “I would first like to thank Dame Moya Greene and the entire Premier’s Economic Recovery Team for undertaking a thorough consultation process and review of Newfoundland and Labrador’s financial circumstances. Secondly, [&hel
• Projects to study carbon capture, energy efficiencies, transportation, renewable energy • Proponents include small technology and engineering companies, universities, operators • Projects consist of technology development/adaptation; demonstration; proof of concept, field trials and feasibility studies St. John’s, NL – Sixteen research, development and demonstration (R
The province’s energy minister admits the thought of Suncor abandoning the Terra Nova project is very concerning but a lot of work is happening behind the scenes to prevent that from happening. Alarms went off when Suncor issued an RFP for two scopes of work, one for remediation and the other for dismantling of the […]
Suncor Energy, government say no decision has been made, but information is being gathered for all options The Newfoundland and Labrador Oil and Gas Industries Association (Noia) says it is concerned for the future of the Terra Nova offshore oil project given recent action by Suncor Energy, the project operator. A Noia news release stated […]
(St. John’s, NL – May 3, 2021) On Friday, Suncor Energy issued Expressions of Interest (EOI) related to the Terra Nova Floating, Production Storage and Offloading (FPSO) vessel located on the Terra Nova offshore field. Two EOIs prepare for decommissioning of the FPSO and the field and another provides an update to a previous EOI […]
NLIS 5 Executive Council Industry, Energy and Technology April 28, 2021 Government Releases Oil and Gas Industry Recovery Task Force Report The Provincial Government today released the Report of the Newfoundland and Labrador Oil and Gas Industry Recovery Task Force (Task Force). The report was submitted to the Honourable Andrew Furey, Premier of Newfoundland and […]
