Official figures

Alberta creates oil sands royalty program with a 10-year rate framework

Alberta's government said on November 13 that it is creating an Oil Sands Growth Program, and that new oil sands production would be eligible for the program's royalty rates for 10 years. It said approved projects would pay a low starting royalty rate for the first five years, then see it rise by one percentage point each year until it reaches a top rate in years nine and 10. The government said it is targeting a spring 2027 launch, with a review by Dec. 31, 2029. It also said its goal is to double oil production, which it estimated could bring about $205 billion in extra revenue by 2040.

Energy. Added November 14, 1:11 am Saskatchewan time.References 1