The industry partners in the Hebron development are ExxonMobil Canada, Chevron Canada, Petro Canada and Norsk Hydro Canada. Chevron Canada is the designated operator for Hebron, which will be the province’s fourth offshore oil development. With the official signing of the formal agreements, the Province of Newfoundland and Labrador through its Energy Corporation will take a 4.9 per cent equity stake in the project.
"Our government is pleased that as a result of hard work and cooperation between the industry partners and our negotiating team, we have signed a historic MOU for this province which will assist Newfoundland and Labrador in achieving the economic self-reliance to which we have long aspired," added Premier Williams. "We have attained an equity position of 4.9 per cent in the project, an improved royalty regime and thousands of jobs for the people of the province, including the construction of a gravity base structure (GBS). We were determined to raise the bar in terms of local benefits, we stood strong in our position and today we have achieved our goals. We thank our new partners for their acceptance of our guiding principles."
etc
[4.9% is PITIFUL. However it looks like the government of N&L is by far the most "nationalistic" since they actually seem to want to have at least miniscule involvemnet in their own resources. Danny Williams said step-by-step they're becoming masters of their own house & I only hope this is just the first step. I don't know about the royalty deal but it sounds better than the old one. Canadians are probably still getting ripped off though. Norway's government has a 50% stake in EVERY oil project in Norway. Maybe that's why they're debt & deficit free. -- NSay]
Note: Link
Stumble It!
Of course, he probably hasn't yet heard of the Kinder Morgan pipeline "leak" in Burnaby, 'cause it's only a month old, never mind the diesel oil spill at Robson Bight two days ago. These are two pissant spills compared to what WILL inevitably happen when a tanker goes aground in the Charlottes, or an underwater pipeline gets ruptured during an earthquake. Yet these sent nearly everyone into a tizzy (albeit a temporary one, until the press lost interest)
But no....let's develop there anyway. I mean, Mr. Neufeld has no intention of living anywhere a spill could wash up on BC's (relatively) pristine shores.
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"When you change the way you look at things, the things you look at change."
-Max Planck