Husky, Petro-Canada, proceed with East Coast oil projectDecision reverses a stream of setbacks for Newfoundland offshore, as majors pull back from ventures, land sales decline and existing fields grapple with cost overruns Gary Park PNA Canadian Correspondent
Canada’s floundering East Coast offshore has been kept afloat with the decision by Husky Energy Inc. and Petro-Canada to proceed with the C$2.35 billion White Rose oil project. Against a background of hefty cost overruns on Newfoundland’s first two developments (Hibernia and terra Nova), a virtual....
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