A milestone many never imagined feasible for the Hibernia project, the initiative that helped revolutionize the economy of Newfoundland and Labrador and created the province's oil industry, is commemorating 25 years of oil production.
A milestone many never imagined feasible for the Hibernia project, the initiative that helped revolutionize the economy of Newfoundland and Labrador and created the province's oil industry, is commemorating 25 years of oil production.
Newfoundland and Labrador's energy minister is not ruling out public ownership in the proposed Bay du Nord project, despite a high-profile report last year that recommended the province sell its oil assets, and stay out of the oil business.
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.