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Nalcor Energy Releases Business and Financial Report for 2016

March 30, 2017

March 30, 2017, St. John’s, NL – Nalcor Energy released its annual Business and Financial Report today, including Annual Audited Consolidated Financial Statements for the year ended December 31, 2016. Nalcor recorded revenues of $824.1 million in 2016, an increase of approximately $13.6 million over the previous year. Operating profit for 2016 was $136.3 million,… Read More

Nalcor Energy Issues Expression of Interest for Future Use of Bull Arm Fabrication

March 9, 2017

Atlantic Canada’s largest industrial fabrication site March 9, 2017, St. John’s, NL – Today Nalcor Energy has issued a request for Expressions of Interest (EOI) across local, national and international markets to invite and assess interest for the potential use of the Bull Arm Fabrication facility following the completion of ExxonMobil Canada Properties lease in… Read More

Media Statement from Nalcor Energy CEO Stan Marshall

November 29, 2016

Today I welcome the appointments made to the Nalcor Energy Board of Directors as identified by the Independent Appointments Commission and announced in the House of Assembly by Minister Coady on behalf of the Provincial Government. With its eleven members, and chaired by Mr. Paddick, the new Board brings the range of experience required to… Read More

Nalcor reports financial results for third quarter

November 14, 2016

Nalcor Energy released its financial results update for the third quarter (ended September 30, 2016). “Nalcor’s financial position to the end of the third quarter 2016 is very sound. Construction of the Muskrat Falls Project did suffer a major disruption in October due to protests. We are focused on getting back on track and completing… Read More

Churchill Falls (Labrador) Corporation files appeal application with the Supreme Court of Canada on the Good Faith case

October 3, 2016

On Friday, September 30, 2016, Churchill Falls (Labrador) Corporation (CF(L)Co) filed an application for leave to appeal with the Supreme Court of Canada on the decision it received from the Quebec Court of Appeal on August 1, 2016, regarding the disparities of the 1969 Power Contract and the associated Renewal Contract between CF(L)Co and Hydro-Québec… Read More

Independent Resource Assessment identifies significant potential in the West Orphan Basin offshore Newfoundland and Labrador

August 24, 2016

The Government of Newfoundland and Labrador, Nalcor Energy and Beicip-Franlab announced today that the in place oil and gas resource potential is 25.5 billion barrels of oil and 20.6 trillion cubic feet of gas in the West Orphan Basin located within the area of the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) 2016 Eastern Newfoundland… Read More

Nalcor Board of Directors Publically Release Stan Marshall’s Employment Agreement

August 11, 2016

At a Nalcor Board meeting held Tuesday, August 9, 2016 the Executive Employment Agreement between Mr. Marshall and the Board of Directors was approved and signed. The Agreement outlines the terms of Mr. Marshall’s employment including his remuneration, expenses and benefits, pension, termination and conflict of interest clauses. The signed agreement has been made publically… Read More

Nalcor Energy Reports Second Quarter Financial Results

August 11, 2016

Nalcor Energy today released its financial update for the second quarter ended June 30, 2016. “Nalcor’s overall financial performance year-to-date has been positive, with earnings up in most lines of business,” said Stan Marshall, CEO. Mr. Marshall added, “Making adjustments on the Muskrat Falls Project to ensure that we are set up to execute effectively… Read More

Churchill Falls (Labrador) Corporation receives Quebec Superior Court decision on the Declaratory Judgement Case

August 9, 2016

Churchill Falls (Labrador) Corporation (CF(L)Co) yesterday received the decision from the Quebec Superior Court for the Declaratory Judgement motion Hydro-Québec filed seeking the Court’s interpretation of the 1969 Power Contract between CF(L)Co and Hydro- Québec and its associated Renewal Contract. A hearing was held in the Quebec Superior Court in the fall of 2015 and… Read More

Churchill Falls (Labrador) Corporation receives Quebec Court of Appeal decision on the 1969 Power Contract

August 1, 2016

Churchill Falls (Labrador) Corporation (CF(L)Co) today received the decision from the Quebec Court of Appeal with respect to the motion it filed in February 2010 regarding the inequities of the 1969 Power Contract between CF(L)Co and Hydro-Québec and its Renewal. In August 2014, CF(L)Co filed an appeal of the Quebec Superior Court Good Faith decision… Read More