CAPP Statement on Government of Newfoundland and Labrador Announcement on Exploration Incentives

September 24, 2020,  St John’s, NL

CAPP is pleased to see the Government of Newfoundland and Labrador committing to reinvest industry funds into exploration incentives. With the province’s offshore industry producing lower carbon-per-barrel oil than many of its competitors, we have an incredible opportunity to meet growing global demand. While today’s announcement does not address the critical situation currently facing the industry and putting thousands of Newfoundlanders and Labradorians out of work, we are hopeful that the federal government will also provide much-needed support so that Newfoundland and Labrador can reach its full potential.

-Paul Barnes, Director, Atlantic Canada and Arctic, CAPP