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 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 (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 (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
Nalcor Energy Oil & Gas today released the results of the first regional Metocean study for offshore Newfoundland and Labrador to the global oil and gas industry. The Metocean Study looked at seven conditions in the provinces offshore to better understand the conditions in order to reduce exploration risk and uncertainty. The study was undertaken… Read More
Stan Marshall, CEO, Nalcor Energy, today announced changes to the company’s executive structure. “Since taking on the role of CEO of Nalcor Energy, I’ve been assessing the company’s operations and existing executive structure and feel changes are required to put greater emphasis on our company’s priorities,” said Marshall. “These priorities are to ensure successful completion… Read More
Nalcor Energy released its financial update for the first quarter ended March 31, 2016 today. Key First Quarter Financial Highlights – YTD profit of $28.0 million, a decrease of $1.3 million over the first quarter of 2015, largely as a result of an increased loss in Hydro Regulated and offset partially by lower operating costs…. Read More
Over the past week, there has been considerable public discussion about Nalcor Energy, the Muskrat Falls project and my tenure as CEO. Today I’m taking the opportunity to address some of those issues. Before coming to work at Nalcor, I worked in the oil and gas industry in the Nova Scotia offshore and Calgary before… Read More
Nalcor Energy today released its Business and Financial Report for the year ending December 31st, 2015 including consolidated financial statements. Nalcor’s focus continues to be firmly on providing reliable electricity service to customers, as well as developing growth opportunities in Oil and Gas, Energy Marketing, Bull Arm Fabrication and the development of Muskrat Falls. During… Read More
Dr. Richard Wright, Exploration Manager with Nalcor Energy, Oil and Gas was honoured with the Rising Star Award by the Newfoundland and Labrador Oil & Gas Industries Association (Noia) today at the 2016 Industry Achievement Awards Luncheon. The Rising Star Award was launched by Noia in 2014 to recognize the talents of an impressive individual… Read More