Off the deep end

Special report

Off the deep end

In the waters off the coast of Newfoundland and Labrador, a plan is swirling to double oil production by 2030 and help the financially struggling province get back on its feet. But Canada — and the world — must drastically cut its planet-warming greenhouse gas emissions by then, and more oil stands to get in the way.

This series wades into the deep end, exploring what N.L. is plotting for its offshore and what financial and economic risks lie in the province’s push for oil.

10 Articles

Will dreams of an offshore oil boom off Canada's East Coast go bust?

This week, ExxonMobil Canada announced there is “no evidence of hydrocarbons” in its Persephone exploration well, which the company hoped would unlock billions of barrels of oil off the coast of N.L. The news follows a similar announcement by Equinor and partner BP earlier in the month, which noted that its Sitka well near the site of Bay du Nord was also a failure.

Off the deep end

Cloe Logan

News

September 19th 2024

Interest in offshore oil exploration fizzles off Canada’s most eastern coast

Each year, companies are invited to offer money to explore areas in the Atlantic Ocean for oil and gas deposits. But last week, the Canada-Newfoundland and Labrador Offshore Petroleum Board announced there were no new bids to explore the region in 2023. The lack of interest contrasts sharply with 2022, when over $238 million worth of exploration licences were awarded.

Off the deep end

Natasha Bulowski

November 8th 2023

Suncor wants to drill over a dozen oil and gas wells off the East Coast

The energy giant Suncor has moved into the next phase of its plans to expand oil and gas drilling off the coast of Newfoundland and Labrador, bolstering the province’s push to become an offshore superpower.

Off the deep end

Cloe Logan

News

May 18th 2023

Canada’s first deepwater oil project inches closer to development

After securing a licence for a recent discovery, Norwegian energy giant Equinor is one step closer to developing Canada’s first deepwater oil project off the East Coast.

Off the deep end

John Woodside

February 9th 2023

BP dives into Canada’s offshore eyeing up billions of barrels of oil

Last year, fossil fuel giant BP left the oilsands to dive into Canada’s offshore market, and is now set to explore a new region on the East Coast it hopes holds up to five billion barrels of oil.

Off the deep end

John Woodside

January 19th 2023

Over $200 million worth of oil and gas exploration licences were just green-lit in Newfoundland’s offshore

This month, the Canada-Newfoundland and Labrador Offshore Petroleum Board announced the results of this year’s call for bids — a process in which companies are invited to offer money for areas in the Atlantic Ocean they want to explore for oil and gas deposits.

Off the deep end

News

November 19th 2022

N.L. offers to give ExxonMobil $80M back if it invests in offshore oil

Greenpeace Canada senior energy strategist Keith Stewart told Canada’s National Observer that Newfoundland and Labrador’s plan is “like giving money to Bill Gates to buy a computer.”

Off the deep end

John Woodside

September 19th 2022

Newfoundland and Labrador’s oil exploration plans are bad news for marine life

It’s well-proven oil and gas production puts marine life at risk. But there is also damage done by oil exploration when companies conduct seismic surveys and exploratory drilling to look for fossil fuel deposits.

Off the deep end

Cloe Logan

News

September 13th 2022

Why Newfoundland and Labrador is going all-in on offshore oil

At a time when the world recognizes the need to end the reliance on fossil fuels, Newfoundland and Labrador is planning to double offshore oil production by 2030.

Off the deep end

John Woodside

September 12th 2022

Newfoundland and Labrador's tsunami of offshore oil plans

Newfoundland and Labrador is betting its financial future on the hundreds of millions of barrels of oil buried off its coast. Here's what that looks like.

Off the deep end

September 7th 2022