[Ost-news] Suncor and Syncrude and Alberta’s royalty hike

[Oil Sands Truth: Shut down the Tar Sands - social and environmental impacts of tar sands heavy oil projects across North America]

Suncor and Syncrude and Alberta’s royalty hike  
SRJ Staff 07.NOV.07

Suncor Energy and Syncrude Canada Ltd will be affected by Alberta’s new royalty hike, but not immediately.

“Those companies are under separate crown agreements,” said Bob McManus, assistant director, communications Alberta energy. “Suncor was negotiated in 1963 and Syncrude in 1975.”

Premier Ed Stelmach announced a new royalty regime for oil and gas on Thursday, Oct. 25. Royalties would increase by $1.4 billion in 2010, a 20-per-cent increase over currently projected revenues for that year.

[read more][1]

    [1]: http://oilsandstruth.org/suncor-and-syncrude-and-alberta%E2%80%99s-royalty-hike

URL: http://oilsandstruth.org/suncor-and-syncrude-and-alberta%E2%80%99s-royalty-hike