Investing.com - Financial Markets Worldwide

UPDATE 1-Alberta says current oil and gas royalty framework to remain to end-2016

Published 2015-08-28, 01:51 p/m
© Reuters. UPDATE 1-Alberta says current oil and gas royalty framework to remain to end-2016

(Adds details of panel)
By Mike De Souza
CALGARY, Alberta, Aug 28 (Reuters) - Alberta's oil and gas
royalty framework will remain in place until the end of 2016,
Energy Minister Marg McCuaig-Boyd said on Friday, as she gave
details of the panel that will review the scheme for the
province's new left-leaning New Democrat government.
McCuaig-Boyd said royalty rates paid by oil and gas
companies will not change until 2017, which will help companies
budget for the important winter drilling season.
"That is to say, for 16 months companies and investors can
operate with certainty, knowing there will be no changes in the
royalty framework. If and when changes are made, any incremental
revenues will go to the (province's) heritage fund," she told a
news conference.
The government also announced that Leona Hanson, mayor of
the town of Beaverlodge in northern Alberta, Peter Tertzakian,
chief energy economist at energy-focused private equity company
ARC Financial Corp, and Annette Trimbee, president and
vice-chancellor of the University of Winnipeg and former senior
Alberta bureaucrat, would join the panel leading the review.
Alberta appointed Dave Mowat, the chief executive of the
provincially owned financial services agency ATB Financial, in
June to lead the panel.
McCuaig-Boyd said the panel's mandate would be to get a
better understanding of the current royalty system, its impact
on private investment and revenues generated for government, as
well as how it compares to other jurisdictions.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.