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Alberta government in talks with potential overseas heavy oil buyer

The province has announced it will collect bitumen royalties in the form of the heavy oil itself, as opposed to cash.



Alberta's energy minister hopes that royalty changes, allowing the province to take bitumen royalties in-kind, will provide pipeline companies with the certainty needed to build new projects and connect Alberta's resources to global markets. The province aims to have more control over where it sells Alberta oil, potentially becoming a significant player in the heavy oil market. Premier Smith is in talks with a multinational oil and petrochemical player about selling province-owned heavy oil. Experts express concerns about added complication and potential costs.

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