 With the collapse of the fishing industry in Newfoundland and Labrador in the 1990s, the role of the ocean is now tied to what lies beneath it – oil and gas – as opposed to what swims in or travels across it.The city is the centre of the oil and gas industry in Eastern Canada and is one of 19 World Energy Cities.ExxonMobil Canada is headquartered in St. John's and companies such as Chevron, Husky Energy, Suncor Energy and Statoil have major regional operations in the city.