On the heels of emergency debates, workers' protests and days of increasing tension and uncertainty, the fate of the Terra Nova oilfield in Newfoundland's offshore could be determined today. Last week, the provincial government turned down a 15 per cent ownership stake in Terra Nova, punting a decision on its future back to the consortium of companies that run it. The government did offer the oil companies $205 million and a break on royalty payments instead, with that cash coming out of a federal recovery fund. Without Terra Nova, and if other projects become uncertain, the entire offshore becomes less competitive with other jurisdictions, he said. On Monday, people gathered outside Confederation Building in St. John's to show their support for the Terra Nova oilfield, and asked politicians to save the jobs associated with it by financially supporting the oil companies involved.

Source: CBC News June 15, 2021 12:19 UTC