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Page 11 - கனடியன் இயற்கை வளங்கள் லிமிடெட் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Government of Alberta takes 50 per cent stake in Sturgeon Refinery for $825 million

The government-owned Alberta Petroleum Marketing Commission has a contract to provide bitumen to the refinery. Under the terms of the new deal, the province will pay North West Refining $425 million for its 50 per cent equity stake in the refinery and will pay Canadian Natural Resources Ltd., which will continue to own the other 50 per cent of the refinery, $400 million. As a result of making the payments now, the province will not have to pay approximately $1 billion in tolling payments over the next 30 years. It will also get to play a decision-making role in the refinery’s operations. In a news release, Energy Minister Sonya Savage said the restructuring will benefit Albertans in the long run.

Alberta extends Sturgeon Refinery deal by 10 years, buying 50 per cent stake in bid to save $2 billion

Article content The province announced a new agreement Monday that will restructure the project’s finances to save an estimated $2 billion over the life of the project, extend the government’s obligation to supply bitumen for processing until 2058, and make the Alberta Petroleum Marketing Commission (APMC) a 50 per cent equity partner. We apologize, but this video has failed to load. Try refreshing your browser, or Alberta extends Sturgeon Refinery deal by 10 years, buying 50 per cent stake in bid to save $2 billion Back to video Energy Minister Sonya Savage said in an interview it was the best option to reduce the mounting long-term costs for taxpayers.

TSX up for 10th week with gain as weak jobs reports support continued easy money

TSX up for 10th week with gain as weak jobs reports support continued easy money
thereminder.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thereminder.ca Daily Mail and Mail on Sunday newspapers.

Varcoe: Alberta now owns part of an oil refinery

Varcoe: Alberta now owns part of an oil refinery
calgaryherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from calgaryherald.com Daily Mail and Mail on Sunday newspapers.

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