Rachel Notley to unveil Alberta's royalty review

CALGARY - Alberta Premier Rachel Notley will be in Calgary today to reveal the province's new oil and gas royalty framework.

See Full Article

The announcement comes as oil hovers around US$30 a barrel and industry players have warned the government against doing anything to worsen the pain.

The new system will be based on recommendations from an expert panel led by Dave Mowat, head of Crown-owned bank ATB Financial.

In 2007 - when oil was climbing toward US$90 a barrel - royalty changes introduced by the Progressive Conservative government caused big outcry among industry players.

Industry groups say they've been happy with how the panel's consultations worked this time around and feel they've had a fair hearing.

But Mark Salkeld, with the Petroleum Services Association of Canada, says the industry is nonetheless on pins and needles as it awaits the announcement.

"It's pretty tough out there. Our members are hurting," he said.

The industry badly needs investment, so getting the formula right is crucial, he added.

"It's not going to open the floodgates tomorrow, but it will help with the process when the industry does turn around."



Advertisements

Latest Economic News

  • Asian stocks weak as investors weigh U.S. data, Brexit plans

    Economic CTV News
    HONG KONG -- Asian stocks were listless Wednesday as investors weighed strong U.S. economic reports against uncertainty as Britain readies a formal request to leave the European Union. KEEPING SCORE: Tokyo's benchmark Nikkei 225 index was less than 0.1 per cent lower at 19,194.20 while South Korea's Kospi was flat at 2,163.54. Source
  • Barrick, Goldcorp joining forces to work on projects in Chile

    Economic CTV News
    TORONTO - Two of Canada's biggest gold companies are creating a new joint venture to advance several mining projects clustered in northern Chile. The joint venture will be owned equally by Toronto-based Barrick Gold Corp. Source
  • What makes a cyberattack? Experts lobby to restrict the term

    Economic CTV News
    LONDON -- When U.S. senator John McCain told Ukrainian television that the allegedly Russian-backed breach of the Democratic National Committee's server was "an act of war," Michael Schmitt cringed. Schmitt, a professor of law at the U.S. Source
  • CEO of International Air Transport Association criticizes electronics device ban

    Economic CTV News
    MONTREAL -- The head of the International Air Transport Association says it's difficult to understand how banning electronic devices in carry-on baggage on flights will improve security. In a prepared text of a speech Tuesday, IATA CEO Alexandre de Juniac called on governments to work with the transport industry to ensure passengers aren't separated from their laptops, tablets and other devices. Source
  • Former Valeant CEO suing company over unpaid shares

    Economic CBC News
    Former Valeant Pharmaceuticals CEO Michael Pearson is suing his former employer for breach of contract for failing to deliver more than three million shares and consulting fees. In a lawsuit filed Monday in the U.S., Pearson alleges that Valeant breached his separation agreement by refusing to hand over 580,676 restricted share units and about 2.4 million performance share awards he was granted. Source
  • Cruise line stops port calls at Mexican resort of Acapulco

    Economic CTV News
    MEXICO CITY - The U.S. cruise ship line Holland America says it has halted port calls at Mexico's troubled resort city of Acapulco and will sail to other destinations in the country "due to recent security concerns. Source
  • Home Capital shares dive after company terminates CEO

    Economic CBC News
    Shares of Home Capital Group Inc. traded down more than seven per cent on the TSX on Tuesday, a day after the company said it had terminated its top executive. Home Capital announced Monday after stock markets had closed that that Martin Reid, its president and CEO, was out, effective immediately. Source
  • Elon Musk's latest venture: Brain-computer interfaces

    Economic CTV News
    NEW YORK -- Tech billionaire Elon Musk is announcing a new venture called Neuralink focused on linking brains to computers. The company plans to develop brain implants that can treat neural disorders and may one day be powerful enough to put humanity on a more even footing with future superintelligent computers, according to a Wall Street Journal report citing unnamed sources. Source
  • Former Valeant CEO Michael Pearson sues for breach of contract

    Economic CTV News
    MONTREAL -- Former Valeant Pharmaceuticals CEO Michael Pearson is suing his former employer for breach of contract for failing to deliver more than three million shares and consulting fees. In a lawsuit filed Monday in the U.S. Source
  • Ford investing $1.2B in 3 Michigan plants, adding 130 jobs

    Economic CTV News
    DETROIT -- Ford Motor Co. is investing US$1.2 billion in three Michigan facilities, including an engine plant where it plans to add 130 jobs. U.S. President Donald Trump applauded the move in an early morning tweet. Source