Sunshine For Newfoundland’s Offshore Oil Industry

The recent dud of a licensing round appears to support the Canadian Association of Petroleum Producers’ negative long-term outlook for Newfoundland’s offshore oil industry. But, in fact, the Newfoundland and Labrador (NL) government has done much to revive the industry in recent years, and the province is more likely to see a substantial increase in oil production through the year 2035 than a substantial decline.

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