Related Articles
Forward article link
Share PDF with colleagues

Canada: Alberta shrugs off royalty increase warnings

THE ALBERTA government has passed legislation to overhaul its oil and gas royalty regime from 1 January, rejecting last-minute industry pleas for delays or concessions. Against claims that Alberta is losing ground as the country's traditional petroleum stronghold, the province's energy minister, Mel Knight, said: "The new framework will give Alberta the tools to create opportunities for investment and job creation." He argued that the "recent volatility of commodity prices shows how our new sliding-scale royalty rates for our non-renewable resources are well-suited to the changing times". The regime raises conventional oil royalties from 25% when the price of crude is C$55 ($46) a barrel, t

Also in this section
Serica sanguine on Iran sanctions
13 July 2018
The firm's historic links to Iran are in the spotlight as US sanctions resume
The return of cautious optimism in the North Sea
13 July 2018
The UK’s North Sea hub, braced for production declines, has received a boost from new investments and revived interest from the supermajors
China loans make Venezuela’s outlook more precarious
12 July 2018
Patience is wearing thin among both China and other trading partners