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Petroleum Refining in Newfoundland

Author.Name IBISWorld Canada Last Updated: August 2025 NAICS NL32411CA

Petroleum Refining in Newfoundland industry analysis

Revenue for the Petroleum Refining industry in Newfoundland And Labrador is expected to decline an annualized -x.x% to $x.x billion over the five years to 2025, while revenue for the national industry will likely grow at x.x% during the same period. The number of industry establishments has stagnated an annualized x% to x locations over the past five years. Industry employment has decreased an annualized -x.x% to xx workers during the period, while industry wages have decreased an annualized -x.x% to $x.x million.

The number of industry establishments is forecast to stagnate x% to x locations over the next five years. Industry employment is expected to decrease an annualized -x.x% to xx workers during the outlook period, while industry wages likely decrease -x% to $x.x million.

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About the Petroleum Refining in Newfoundland Market Research Report

What’s Included in the Petroleum Refining in Newfoundland Market Research Report

Definition of the Petroleum Refining in Newfoundland?

This industry refines crude petroleum through fracking and distillation to produce gasoline, diesel fuels and other fuel oils.

What’s included in the Petroleum Refining in Newfoundland?

The Petroleum Refining in Newfoundland includes production of gasoline, production of diesel fuels, production of fuel oil, production of aviation fuel, production of heating oil and production of liquefied petroleum gases. Related terms covered in the Petroleum Refining in Newfoundland industry report includes an oil sand extraction technique where steam or solvents are injected into oil sand reserves to lower viscosity, permitting oil to flow into wells, the thickness of crude oil and petroleum products. low viscosity crude oil typically has lower refining costs, the difference between the value of refined petroleum products and cost of crude oil inputs. profit margin for petroleum refineries and a unit of measure for crude oil and petroleum products. one cubic metre is equal to about 6.3 barrels.

Industry Performance of the Petroleum Refining industry in Newfoundland

Benchmark the Petroleum Refining in Newfoundland industry performance with all NL Census Metropolitan Area and national performance.

Petroleum Refining in Newfoundland

#7 in Highest Revenue 1.9% of province's GDP
Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

Petroleum Refining in Canada


Revenue (2025)
Annual Growth (2020-25)
Annual Growth ()

For the full list of industry drivers, see report purchase options.

Key Drivers of the Petroleum Refining industry in Newfoundland

See how key industry drivers, such as median houshold income, private investment in non-residential construction, gross domestic product, world price of crude oil, us gross domestic product (gdp) and canadian effective exchange rate index are impacting Petroleum Refining in Newfoundland

Newfoundland Economic Indicators

Median Houshold Income
Private Investment in Non-Residential Construction
Gross Domestic Product

View more economic information in NL State Economic profile

Canada Key External Drivers

World price of crude oil
US Gross domestic product (GDP)
Canadian effective exchange rate index

For the full list of industry drivers, see report purchase options.

Census Metropolitan Area Data of the Petroleum Refining industry in Newfoundland

Key Statistics of the Petroleum Refining industry in Newfoundland

Download 18 years of historical data and 5 years of projected performance.

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Top Questions Answered in this Report

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What is the market size of the Petroleum Refining industry in Newfoundland in 2025?

The market size of the Petroleum Refining industry in Newfoundland is $1.9bn in 2025.

How many businesses are there in the Petroleum Refining industry in Newfoundland in 2025?

There are 1 businesses in the Petroleum Refining industry in Newfoundland, which has been declining at an average annual rate of 0.0% from 2020 to 2025.

Has the Petroleum Refining industry in Newfoundland grown or declined over the past 5 years?

The market size of the Petroleum Refining industry in Newfoundland has been declining at an average annual rate of -6.8% from 2020 to 2025.

How many employees in the Petroleum Refining industry in Newfoundland in 2025?

There are 77 employees in the Petroleum Refining industry in Newfoundland, which has been declining at an average annual rate of -25.8% from 2020 to 2025.