CAPP Statement: Federal Funding for the Offshore Oil and Gas Industry in Newfoundland and Labrador

September 25, 2020, St. John’s, NL

We are hopeful that today’s announcement will make a difference as offshore operators make critical investment decisions in the coming weeks and months, but the situation facing our industry is dire, with thousands out of work and projects at risk. Further detail is required to determine if this support will help operators overcome the critical challenges they are facing. CAPP will continue advocating for support for stalled projects and for tax reform measures for offshore exploration and development, which are necessary to support growth and enable the creation of thousands of jobs, long-term revenues for Newfoundland and Labrador and Canada, and support the development of a sustainable low emissions source of energy.

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