Alberta Plans New Royalty Incentives to Spur Oil Production

Alberta Changing Oil Royalty Regime to Spur Growth, Premier Says

Alberta plans to change the fees it charges oil companies to encourage investment in the industry and grow production to fill a proposed million-barrel-a-day pipeline, the province’s premier says.

Alberta Plans New Royalty Incentives to Spur Oil Production

Canada’s oil-producing province of Alberta plans to announce in November a new preferential royalty framework to encourage companies to invest in new oil and gas production, Alberta’s Premier Danielle Smith said at an industry event. As Alberta owns 81% of the mineral rights, the Alberta government, as the resource owner, sets conditions and royalties for resource development. Alberta’s ambition to boost oil production and export more of its cru…