HUSKF - Husky's idled West White Rose oil project gets C$41.5M to keep it alive

Husky Energy ([[HUSKF]] +2.8%) says it will receive C$41.5M in federal funding to maintain jobs and move toward restarting its West White Rose oil project offshore Newfoundland and Labrador.The funding does not come with a guarantee that Husky will restart the $2.2B West White Rose extension project, as the provincial government stresses the money will "protect the option of restarting the West White Rose Project in 2022, if conditions permit."Husky said in September it was halting construction on the project, then announced it was suspending construction for all of 2021 as the company reviewed its operations in the province.The funding for Husky is part of C$320M in federal aid, to be managed by the province, to help Newfoundland and Labrador's offshore oil industry as the sector suffered from plunging oil prices and the global pandemic.

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Husky's idled West White Rose oil project gets C$41.5M to keep it alive