{"id":312353,"date":"2025-11-28T13:59:10","date_gmt":"2025-11-28T13:59:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/312353\/"},"modified":"2025-11-28T13:59:10","modified_gmt":"2025-11-28T13:59:10","slug":"report-on-offshores-socio-economic-impact-on-nl-released-by-industry-players","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/312353\/","title":{"rendered":"Report on Offshore\u2019s Socio-Economic Impact on NL Released by Industry Players"},"content":{"rendered":"

\t\t\t\t <\/p>\n

\t\t\t\t\"Report<\/p>\n

Report co-author Josh Barrett speaks with reporters (VOCM News)<\/p>\n

Players in the province\u2019s oil and gas industry have released a report<\/a> breaking down the socio-economic benefits of the energy sector to the local economy.<\/p>\n

Energizing our Economy, prepared by Stantec for Energy Research and Innovation NL, shows that the province\u2019s offshore sector continues to be a cornerstone of the provincial economy \u2013 supporting thousands of jobs and driving economic growth.<\/p>\n

\"\"<\/a><\/p>\n

(VOCM News)<\/p>\n

According to the report, oil and gas contributed 23.3 per cent to the province\u2019s GDP, and generates a $2.3 billion increase in household income each year.<\/p>\n

Oil and gas also represented 55 per cent of the province\u2019s total exports in 2024, but co-author Josh Barrett says the number that stood out to him the most was the impact on labour.<\/p>\n

He says between 2018 and 2024 the oil and gas industry represented 10.8 per cent of the province\u2019s overall workforce. \u201cThat\u2019s a huge proportion of our workforce in our province, a huge number.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" Report co-author Josh Barrett speaks with reporters (VOCM News) Players in the province\u2019s oil and gas industry…\n","protected":false},"author":2,"featured_media":312354,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":{"0":"post-312353","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-economy"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/312353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=312353"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/312353\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/312354"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=312353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=312353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=312353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}