The successful bid totalled $27 million and was made by BP Canada Energy Group, according to the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB). (Paula Gale/CBC)The bid total for 2020 is a staggering drop from previous years. In 2018, five successful bids totalled just shy of $1.4 billion for a total of five parcels. The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) says one out of 17 parcels for the province's offshore received a bid this year, while 16 others did not. The C-NLOPB says the 16 parcels that failed to drum up any bids in 2020 may be re-posted in the future.

Source: CBC News November 05, 2020 19:10 UTC