Two of the largest industries in the province are hurting and need help from government.
The Canadian Association of Petroleum Producers says the local oil and gas industry is suffering and discussions are underway to help the industry bounce back once the pandemic passes.
In the fishery, finding markets is a challenge in the best of times, but especially this year.
A drop in consumption due to COVID-19, along with a glut in the market, has driven oil prices down forcing shutdowns and delays in major projects. That includes Equinor’s Bay du Nord project and construction on the White Rose extension.
Paul Barnes (VOCM File Photo)
Director, Atlantic Canada and Arctic with CAPP, Paul Barnes, says while he doesn’t have any exact figures, there have been layoffs as a result. Barnes says the industry wants to ensure that exploration continues.
They’ve been looking for flexibility on exploration licence terms and conditions because of some of the current difficulties in securing rigs.
They’re also looking at ways to get Bay du Nord and other projects back on stream once the COVID crisis passes in addition to tax credits and tax reform to ease the burden.
Keith Sullivan (VOCM file photo.)
FFAW President Keith Sullivan has asked Ottawa to delay opening the fishery until at least May 11th. It’s unclear as to how those who prosecute the fishery will be able to do so without violating social distancing and other health protocols.
He says the fishing industry is going to need leadership from Ottawa as they are severely challenged this year.
