Environment Committee on Oct. 30th, 2025

[Jim Keating]

Right now the perception of that will vary. I'm going to be careful not to overstep. I am a Government of Newfoundland and Labrador employee, and they're formulating their own provincial views on this, but I think the $75 to $100 pricing window seems to be a competitive place for us to be in at this time.

[Patrick Bonin, Bloc, Repentigny, QC]

Is that per tonne of CO2?

[Jim Keating]

Yes, that's correct.

[Patrick Bonin, Bloc, Repentigny, QC]

Can you tell us how many barrels of oil Newfoundland and Labrador produces every day, on average?

[Jim Keating]

Currently, we're 50% off our peak of 400,000 barrels in 2008. We're at about 200,000 barrels per day, but we will increase to perhaps 300,000 barrels per day towards the end of next year with the advancement of the White Rose platform, which has just been installed.

[Patrick Bonin, Bloc, Repentigny, QC]

On average, what percentage of that production has been exported outside of Canada in the past five years?

[Jim Keating]

It's 100%.

[Patrick Bonin, Bloc, Repentigny, QC]

So Newfoundland and Labrador exports all of the oil that it produces. Is that correct?

[Jim Keating]

That's correct.

[Patrick Bonin, Bloc, Repentigny, QC]

Is there some reason why that oil was not sent to Canadian refineries instead of being exported?

[Jim Keating]

Newfoundland and Labrador did have a refinery where some portion of crude was delivered. It ceased. That operation was converted to biofuels maybe five to seven years ago. The other refinery in Canada—in Saint John, New Brunswick—did receive volumes of crude seven to 10 years ago, but since then, of course, crude has gone for the highest price. Right now, European refineries are paying a premium, in most cases, for our offshore crude. If the Brent price is $65, there are refineries in Europe looking for our crude because of our crude quality and other aspects and attributes. We may get a dollar or two more per barrel, so that's where those barrels are going.

The Saint John refinery is looking at different domestic markets to North America, which are selling at Brent and probably a different quality.

[Patrick Bonin, Bloc, Repentigny, QC]

Apart from the price, there is no reason for not sending that oil to Canadian refineries. Is that correct?

Please answer yes or no.

[Jim Keating]

If there was a refinery that would take.... It's the other side. The buyer has just the same imperative as the seller. Right now, the buyers are not looking for our offshore oil.

[Patrick Bonin, Bloc, Repentigny, QC]

Thank you.

Ms. Dovgal, does Resource Works Society receive money from oil and gas companies?

[Margareta Dovgal]

I'm employed by a non-profit that operates in advancement of the public interest. The non-profit fundraises from a variety of sources. We take money from companies. We take money from ticket sales for our conference on indigenous economic development—

[Patrick Bonin, Bloc, Repentigny, QC]

My question is whether you receive money from oil and gas companies, yes or no?

[Margareta Dovgal]

Personally, no.

[Patrick Bonin, Bloc, Repentigny, QC]

I mean your organization, Resource Works Society.

[Margareta Dovgal]

It has, yes.

[Patrick Bonin, Bloc, Repentigny, QC]

How much money do you receive every year from oil and gas companies?

[Margareta Dovgal]

That's not a question I can answer. I don't actually know the answer to that specific question.

[Patrick Bonin, Bloc, Repentigny, QC]

Can you please tell us your organization's annual revenues, including from oil and gas companies?

[Margareta Dovgal]

Unfortunately, that's a proprietary thing. I don't believe I'm obligated to answer that. We fundraise from a variety of source and do a conference every year, so our revenues are variable, but we are a non-profit registered in British Columbia.

[The Chair, Liberal, Angelo Iacono]

Thank you, Mr. Chair.

For five minutes, Mr. Leslie, the floor is yours.

[Branden Leslie, Conservative, Portage—Lisgar, MB]

Thank you, Mr. Chair.

I would like to thank all our witnesses, particularly our young witness, Ms. Mathur. Thank you for being involved at a young age. As a young MP, I think that's important, and there are actually many more young people getting involved in politics for a variety of different reasons right now.