The Canadian Press

1993-01-15 | Hibernia

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$19.99
Ottawa stepped in to rescue the 5.2-billion-dollar Hibernia oil mega project off Newfoundland. It bought an 8.5 percent share in the project for 360 million dollars and persuaded Murphy Oil of El Dorado, Arkansas to take another 6.5 per cent. The Hibernia consortium picked up the rest of the 25 per cent share that became available with the withdrawal of Gulf Canada. Newfoundland Premier Clyde Wells said the rescue of Hibernia would be good for all of Canada.

Date: 1993-01-15
Placeline: St John's, NL, Canada
Source: The Canadian Press
Length: 19 seconds

Transcript Prediction: << when will receive significant benefits but the opportunities provided will be distributed throughout businesses in Nova Scotia New Brunswick Quebec Ontario Alberta British Columbia have already been awarded multi million dollar contract and more will undoubtedly follow >>

Clip ID: 19930115CPCN001