New StatsCan data reflects steady decline in Newfoundland’s offshore oil production

Newfoundland and Labrador’s GDP from oil and gas extraction fell by more than 10 per cent in 2022, compared with increases in Alberta and Saskatchewan.

Environment Minister Steven Guilbeault, seen here on April 20, approved the controversial Bay Du Nord offshore oil project one year ago. If the project survives a legal challenge from environmental groups, it will be at least five years before the first oil starts flowing.The Hill Times photograph by Andrew Meade

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BY KEVIN PHILIPUPILLAI

May 2, 2023

New data from Statistics Canada has confirmed what industry insiders in Newfoundland and Labrador already know: the province’s oil and gas sector declined for a second straight year in 2...

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