The last month has been eventful for the energy sector in Newfoundland and Labrador. Anchored by the Energy NL Conference & Exhibition 2025 in St. John’s, stakeholders from across the province’s energy sector provided the latest updates along with using the event as a platform for major announcements.

Here are a few highlights:

  • May 28: North Atlantic, headquarted in St. John’s, announced plans to purchase a controlling interest in Esso Société Anonyme Française SA and 100% of ExxonMobil Chemical France SAS. Specifically, this includes the Port-Jerome-Gravenchon oil refinery in northern France; the second-largest oil refinery in France (230,000 barrels of crude per day). Read More
  • June 2: the Government of Newfoundland and Labrador announced findings from an assessment of offshore natural gas resources in the Jeanne d’Arc Basin. The assessment found between 1 and 11.3 trillion cubic feet (tcf) of natural gas reserves in the area. The Basin is already home to offshore oil and gas development. The provincial government has not yet developed a royalty regime. Read More
  • June 2: The governments of Newfoundland and Labrador and Canada announced legislation to enable offshore wind development came into force (Bill C-49 (federal) and Bill 90 (NL)). Read More
  • June 3: Premier Hogan promoted at least three major Newfoundland and Labrador projects as nation building opportunities including; the planned expansion at Churchill Falls, new hydroelectric capacity at Gull Island, and the launch of the Bay du Nord oil and gas project. Read More, Watch Video
  • June 3: A representative from Hydro-Quebec said construction on Gull Island’s temporary infrastructure, like work camps and roads, will begin in 2026. Construction at the Churchill Falls extension will begin in 2029. This project agreement is expected to be finalized in April 2026. The two projects combined are expected to require $33 billion in construction contracts. Read More
  • June 4: Green hydrogen developers will continue moving forward as the ‘hype has boiled off’ with challenges to secure offtake agreements in Europe. Some proponents believe they could also provide competitive, low cost wind energy to NL Hydro. Read More
  • June 5: Equinor announced a contract will be awarded soon for the Floating Production Storage and Offloading unit (FPSO) for the Bay du Nord project. Equinor said it will make a financial investment decision by 2027. Read More
  • June 5: ExxonMobil announced two new crude oil discoveries in recent months at the Hibernia and Hebron fields (25 million barrels and 50 million barrels respectively).
  • June 9: The Government of Newfoundland and Labrador announced $2 million to support clean energy workforce development. This funding supports econext’s Accelerating Clean Growth: Green Economy Workforce Development Project. Read More
  • June 10: Charlene Johnson, the CEO of Energy NL, joined the ARC Energy Ideas podcast on to recap the 2025 Conference & Exhibition: The View From St. John’s: Investment, Energy, and Nation-Building.
  • June 17: The province’s Public Utilities Board approved a 7 per cent rate increase for Newfoundland Power customers effective July 1. Read More