Alberta Taking Half-Stake in Oilsands Refinery to Reduce Tolling Costs
Alberta Taking Half-Stake in Oilsands Refinery to Reduce Tolling Costs The Alberta government on Monday announced a C$825 million ($660 million) takeover of a 50% ownership share in Canada’s newest oilsands refinery near the provincial capital in Edmonton. North West Refining Inc. is to be paid C$425 million ($340 million) for its half-equity in the 79,000 b/d refinery north of Edmonton. North West also agreed to forego future tolling revenue. Canadian Natural Resources Ltd., which owns the other 50% of the Sturgeon Refinery, is to be paid $400 million ($320 million ) and become the operati...
Source: naturalgasintel.com