Newfoundland and Labrador is taking its offshore oil assets to potential buyers, as the third stage of a review in which the province will decide whether to sell its stakes or keep them.
Newfoundland and Labrador's finance minister says the provincial government will undergo a review of the province's assets to determine their value and decide whether it makes sense to hold on to them but the opposition says the review is a waste of time and money.
A reassessment of the oil resource at the Hibernia South Extension project has determined that Nalcor Energy received 1.3 million barrels more than it was entitled to.
Andrew Parsons isn't ruling out the purchase of an ownership stake in the Terra Nova oilfield but says it would happen only if the reward outweighs the risk.
The future of the Crown corporation behind the controversial Muskrat Falls hydroelectric project, Nalcor Energy, is under review, the Newfoundland and Labrador government announced Monday.