Newfoundland and Labrador Supreme Court Justice Robert Stack dismissed the government's application, made in 2016, and ordered costs to be paid to the oil companies. But in past filings made to the independent arbitration panel, the oil companies behind the Hibernia project indicated that a decision against them would "bring about a windfall for the province." Those companies — including ExxonMobil Canada, Chevron Canada, Suncor Energy, Murphy Oil, and Statoil Canada — sent the matter to arbitration in 2013. "The Supreme Court decision regarding Hibernia royalties is currently under review," Coady indicated. ExxonMobil Canada, meanwhile, issued a statement saying it is "pleased with the Supreme Court's decision."

Source: CBC News September 06, 2017 09:22 UTC