Husky asks for government investment while reviewing West White Rose project

ST. JOHN'S, N.L. -- Husky Energy Inc. is asking the federal government and the province of Newfoundland and Labrador to make a "direct investment" in its partly completed $2.2-billion West White Rose offshore oil project.

He also suggested that under a "worst-case scenario," it could also signal Husky's option to eventually shut down or sell the currently producing White Rose offshore oil project itself. If the new project doesn't go ahead, it raises questions about whether those projects are worthwhile to preserve the 20,000 barrels per day Husky gets from its share of the existing project, Skolnick said, which could lead to a scenario where it attempts to sell or shuts down the project in 2022.

In mid-March, Equinor and Husky announced an indefinite deferral of the Bay du Nord project, slated to be the province's first deep-water operation. "A full review of scope, schedule and cost of this project is critical, given the minimum one-year delay to first oil caused by COVID-19, and our priority of maintaining the strength of our balance sheet with ample liquidity," said Husky CEO Rob Peabody in a news release announcing the review Wednesday.

Apparently is 70% owned by a hong kong billionaire. I don't think government should be investing in a company that will be compromised by political tensions of the likes of hong kong v ccp.

Tell them to look in their overseas accounts! Not1Dime Those companies incl Suncor, Enbridge, CNRL, TransCanada, Imperial Oil, Cenovus & Husky. The report, titled “Bay Street and Tax Havens: Curbing Corporate Canada’s Addiction,” taxhavens cndpoli

NL is broke, though...

NOPE. they've had enough money and the west half of the continent is on fire. NO. MORE. OIL. BAILOUTS.

How out of touch are these people? Trudeau dosn't have the money to build anything or give handouts to his corporate friends.

Welfare handouts. Go get 'em Conservatives!

Cooperate welfare

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Trade tribunal to review Canadian government deal with Chinese company for X-ray scanners in embassiesThe Canadian International Trade Tribunal told Beijing\u002Dbased Nuctech that it has decided to conduct an inquiry, based on a complaint made by a rival bidder Get rid of this deal. Rip it up. Chinese bends the world over with a global pandemic and get rewarded with trade deals, very cool! Good call. Canada government facilities must be manned, supplied, and maintained by Canadians & Canadian companies. For security first & foremost. But fiscal transparency & dependability as well.
Source: nationalpost - 🏆 10. / 80 Read more »