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By the numbers
Value of the NL offshore oil and gas industry
Newfoundland and Labrador
NL has produced approximately 26% of Canada’s conventional light crude oil and approximately 8% of Canada total crude oil, cumulative from 1997 to 2019.
6,791 people are directly employed on NL oil and gas reporting projects (6,055 in the province), as of December 31, 2019.
The industry has:
Paid more than $22 billion in royalties to the NL government, cumulative from 1997 to 2019.
Represented approximately 24% of the provincial GDP, cumulative from 1997 to 2017.
Spent approximately $62.7 billion in expenditures, cumulative from 1966 to 2018.
Spent nearly $600 million on research and development; education and training since 2004.
Oil sands operators have positive results from decades of tailings research and are now working with regulators to ensure any water release will be environmentally safe.
Researchers examine current energy transition policies and raise concerns about unintended consequences like market instability, power interruptions and high energy costs.