Oil News Releases
Alberta delivers on oil and gas competitiveness (March 11, 2010)
Increased production, jobs and spin-off benefits expected as a result of regulatory and fiscal changes for oil and gas sector Calgary... To advance Alberta’s competitiveness in the upstream oil and gas sector, the Alberta government will modify conventional oil and natural gas royalty rates; promote more innovation and use of new technologies; and reduce unnecessary red tape while improving coordination of regulatory processes.
Emissions from oil sands comparable to other crude oils (July 23, 2009)
Calgary... Two independent studies have found direct emissions from producing, transporting and refining oil sands crude are in the same range as those of the other crudes refined in the United States.
The Life-Cycle Analysis of North American and Imported Crude Oils is based on two independent studies that comprise the first robust comparison of domestic, imported and oil sands crude processes in U.S. refineries. The research, conducted over the past year by U.S.-based consulting companies Jacobs Consultancy and TIAX LLC, was funded by the Alberta Energy Research Institute (AERI).
Alberta's Bitumen Production Forecast To Continue To Grow (June 10, 2009) ERCB release
Alberta expected to produce over 3 million barrels of oil per day by 2018
Calgary, Alberta... The Energy Resources Conservation Board (ERCB) has released its annual report Alberta's Reserves 2008 and Supply/Demand Outlook 2009-2018. Based on the ERCB’s own geological and technical analysis, this report is a source of information on the state of reserves and the supply and demand for Alberta's diverse energy resources: bitumen, crude oil, natural gas, natural gas liquids, coal, and sulphur. It includes estimates of reserves at December 31, 2008 and a 10-year supply/demand forecast for each resource. A supply/demand forecast of electricity in Alberta is also provided. The report also includes historical data for energy resources production.
Province supports nine innovative energy projects (May 14, 2009)
Edmonton… The Government of Alberta is strengthening its commitment to establishing the province as a world-class centre for responsible energy development through funding for nine innovative energy projects. “Alberta is once again demonstrating global leadership in the advancement of innovate energy technologies,” says Energy Minister Mel Knight. “This investment in Alberta’s future is a clear indicator that this government will continue to take positive steps to position Alberta as a science, technology, and clean energy leader.”
New energy legislation promotes sustainable energy production (March 18, 2009)
Energy Statutes Amendment Act updates existing legislation
Edmonton... New legislation introduced in the Alberta Legislature will expand the orphan well liability program to include large energy facilities, give the province the authority to take bitumen royalty-in-kind and eliminate inefficiencies found in current energy legislation.
Province announces three-point incentive program for energy sector (March 3, 2009)
Short-term initiative to stimulate new and continued economic activity
Edmonton…The Government of Alberta has announced a new three-point incentive program designed to help keep Albertans working in the province’s energy sector during the current global economic slowdown. Read More - Royalty Information - Fact Sheet 
- FAQ Incentive program - New Well Reduction - Orphan Well Grant Agreement and Workplan
Wells commenced after November 19, 2008 eligible for transitional royalty rates (November 24, 2008)
Edmonton...The Government of Alberta has announced a clarification to the transitional royalty rates it will offer companies drilling new oil and gas wells beginning in 2009. To ensure that all preparatory or drilling work planned to begin from the time the rates were announced until the end of year continues as scheduled, wells commenced between November 19 and December 31, 2008 will be eligible for the transitional royalty rates.
Alberta to offer transitional royalty rates to promote new drilling (November 19, 2008)
All existing wells and oil sands projects to move to new framework January 1, 2009
Edmonton...In response to the global economic crisis and a slowdown in oil and gas drilling throughout the province, the Government of Alberta will provide companies drilling certain new wells after January 1, 2009 with a one-time option of selecting new transitional royalty rates. By helping ensure companies have access to the cash flow they need to invest in new projects, this five-year program is aimed at encouraging the development of new drilling projects and keeping thousands of Albertans at work.
Government of Alberta and Syncrude reach new Crown agreement (November 18, 2008)
Syncrude partners agree to pay $975 million in additional royalties
Edmonton...The Government of Alberta and the Syncrude joint venture owners have reached an agreement that will see the owners pay $975 million in additional royalties beginning in 2010 through 2015. This provides for full implementation of the New Royalty Framework by 2009 and meets the government’s objectives for negotiated revisions to Crown agreements.
Webber promotes Alberta's approach to energy development (November 13, 2008)
Edmonton... Len Webber, MLA for Calgary-Foothills and Alberta Energy Parliamentary Assistant, delivers a presentation on Alberta’s plan for resource development, November 17 in Santa Fe, New Mexico. Webber will represent Alberta at the 2008 Interstate Oil & Gas Compact Commission’s (IOGCC) annual meeting.
The annual meeting takes place November 15 through 18 and includes the IOGCC’s member governors and their representatives, federal and state regulators, legislators and a cross-section of industry representatives. This year’s theme is “The Challenges of Unconventional Oil and Natural Gas.”
Energy Minister to showcase Alberta’s commitment to responsible energy development at World Petroleum Congress in Spain (June 23, 2008)
Minister will also speak to investors in London, England
Edmonton… Alberta Energy Minister Mel Knight will highlight Alberta’s work to ensure the sustainable development of our resources at the World Petroleum Congress June 29 – July 3 in Madrid, Spain. Knight will present a keynote address at the congress on July 3 and will also travel to London, England to speak to the business community at the Canada-U.K. Chamber of Commerce on July 7.
Announcement follows analysis of New Royalty Framework unintended consequences
Calgary... The Government of Alberta has introduced two new royalty programs designed to encourage the continued development of deep, high-cost oil and gas reserves. The resulting exploration and development are expected to generate additional jobs and royalty revenues for Albertans.
Province to improve royalty system evaluation and public reporting (April 7, 2008)
Edmonton... The Government of Alberta will implement 13 recommendations to enhance how the performance of the royalty regime is measured and how that performance is reported back to Albertans.
The recommendations were included by former provincial Auditor General Peter Valentine in his report Building Confidence: Improving Accountability and Transparency in Alberta’s Royalty System.
Suncor to pay up to 20% more royalties under new agreement (January 29, 2008)
Negotiations continue with Syncrude Canada
Edmonton... The Government of Alberta and Suncor Energy Inc. have reached an agreement that will see the company pay increased royalties starting in 2010—a full six years before its existing Crown agreement was scheduled to expire.
Province supports new projects to study innovative energy development (November 13, 2007)
Edmonton…Two new and innovative projects that will explore environmentally sustainable ways to recover previously untapped energy resources have been given the green light thanks to an investment by the Alberta government.
The projects focus on developing new energy supplies from existing oil and bitumen deposits. The projects will receive royalty adjustments totaling about $16.5 million under Alberta Energy’s Innovative Energy Technologies Program (IETP).
Province to capture feedback on royalty recommendations Government also hearing from industry as part of thorough analysis (September 25, 2007)
Edmonton... To capture all the feedback on the royalty review recommendations, the Alberta government has set up a special website for Albertans to send in their comments. “The decision on the royalty report will affect Alberta and our energy sector for decades to come,” said Premier Ed Stelmach. “While the formal consultation is over, we have not stopped listening. We want to make sure that people who have comments send them to the right place so we can consider this input as part of the review process.”
Royalty Review Panel final report released to public
Government to respond by mid-October (September 18, 2007)
Edmonton... The Government of Alberta has publicly released the final report of an expert panel asked to examine the province’s energy royalty and tax regime, following through on a commitment to make the royalty review process open and transparent. Entitled Our Fair Share, the 104-page report provides recommendations about how the government can modify the existing provincial royalty structure.
Energy sector teams up to tackle labour challenges (July 10, 2007)
Calgary... Alberta's energy associations and employers are taking action to address labour shortages with the release of A Workforce Strategy for Alberta's Energy Sector which contains 46 new actions for recruiting, retaining, and developing the workforce.
Province supports three innovative energy projects (March 20, 2007)
Edmonton… Three innovative energy projects may generate new ways to recover previously untapped energy resources, thanks to support from the Alberta government.
