The next decade could be positive for NL oil production
NL offshore has potential for new heights
Commercial oil discoveries off Newfoundland and Labrador could see three or four new fields coming online in the next ten years
The Newfoundland and Labrador (NL) offshore oil industry is again picking up speed after grinding to a near halt when the coronavirus pandemic hammered energy demand and prices in the first half of 2020. And assuming there are commercial discoveries during the latest rebound in exploration activity, the next decade could be positive for NL oil production, even with the Canadian government continuing to turn the environmental screws. “The first ray of sunshine was last September, when [Canada’s] Suncor formed a new ownership group and approved a plan to extend the life of Terra Nova by ten years,” Paul Barnes, director of Atlantic Canada and Arctic for the Canadian Association of Petroleum Pr
Also in this section
8 January 2026
Indonesia and Malaysia are at the dawn of breathtaking digital capabilities. Their energy infrastructure must keep up with their ambitions
8 January 2026
The next five years will be critical for the North Sea, and it will be policy not geology that will decide the basin’s future
8 January 2026
The region’s access to versatile feedstock, combined with policy support, is setting it up to meet growing demand both at home and abroad
7 January 2026
No longer can the energy source be considered a sidekick to oil in the Middle East and neither should it step aside for less convincing alternatives
