Jim Flaherty says he is open to Hibernia sale

Federal Finance Minister Jim Flaherty says Ottawa is open to discussing a potential sale of its stake in the Hibernia offshore oilfield off Newfoundland and Labrador.
The Hibernia platform began producing oil in November 1997. (CBC)

Federal Finance Minister Jim Flaherty says Ottawa is open to discussing a potential sale of its stake in the Hibernia offshore oilfield off Newfoundland and Labrador.

However, Flaherty says the federal government has not directly considered the possibility as it looks at other potential asset sales.

He also refused to say how much such a sale might raise for federal coffers.

Flaherty made the comments Tuesday in Edmonton during a moderated question-and-answer session following the fall economic update.

Former Newfoundland and Labrador premier Danny Williams first offered to buy Ottawa's 8.5 per cent stake in Hibernia in October, 2010.

The oilfield is located about 315 kilometres southeast of St. John's.

Comments

To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). Pseudonyms will no longer be permitted.

By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in whole or in part, in any manner CBC chooses. Please note that CBC does not endorse the opinions expressed in comments. Comments on this story are moderated according to our Submission Guidelines. Comments are welcome while open. We reserve the right to close comments at any time.