Posted AT 1:45 PM EDT on 24/08/07
Nfld. grabs a seat at oil table
A deal to give Newfoundland and Labrador an equity stake in the offshore Hebron oil project is only the first step as the province looks to build a major state-owned oil and gas company, Premier Danny Williams said yesterday.
After a 16-month standoff, Mr. Williams unveiled yesterday an agreement-in-principle with some of the world's largest oil companies that will see the province spend $110-million for a 4.9-per-cent stake in the $5-billion project.
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