St. John’s, N.L. (November 8, 2024) – Lloyd Parrott, Progressive Conservative Shadow Minister for Industry, Energy, and Technology and MHA for Terra Nova, condemns the Liberal government for failing to support Newfoundland and Labrador's offshore oil and gas sector. This follows a recent bid round that once again saw no interest in exploration licenses.

"The Furey Liberals have failed the offshore oil and gas industry. This latest failure to attract exploration bids is a direct result of the Liberal's lack of support, including the lack of a robust seismic program," said Parrott.

Parrott pointed to the Furey Liberals' failure to effectively advocate for Newfoundland and Labrador's offshore oil and gas interests in Ottawa, where the federal Liberals have pushed forward anti-offshore policies.

"Instead of defending Newfoundland and Labrador's oil and gas interests, the Furey Liberals have prioritized their political loyalty to the federal Liberals. It's time they put our province first by demanding a fair regulatory framework that protects our industry and jobs," Parrott added.

Despite the province's world-class resources and the lower-carbon oil it produces, Energy NL has noted that the current regulatory climate is ‘last class’ due to regulatory uncertainty, including the emissions cap and federal ‘greenwashing’ regulations.

"The Furey Liberals need to take immediate action and stop putting their political allegiance to the Liberals in Ottawa ahead of the best interests of our province," said Parrott.

"Newfoundland and Labrador can—and should—be a leader in the global energy economy, but that will only happen if the Liberals start listening to the industry and standing up to Ottawa."