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Western Canadian Select (WCS) is a heavy sour blend of crude oil [1] that is one of North America's largest heavy crude oil streams [2] and, historically, its cheapest. [3] It was established in December 2004 as a new heavy oil stream by EnCana (now Cenovus), Canadian Natural Resources, Petro-Canada (now Suncor) and Talisman Energy (now Repsol Oil & Gas Canada). [4]
The Sturgeon refinery is owned and operated by the Canadian Natural Resources Ltd. and the Alberta government. On July 6, 2021 Premier Jason Kenney announced that the province of Alberta had acquired a 50% "equity stake" in the Sturgeon Refinery through the APMC, which now owns the "stake previously owned by Calgary-based North West Refining Inc."
Alberta's hopes of a rebound this year for its long-struggling oil industry have been dashed by a crash in global crude prices, dragging down producers' stocks and leaving the Canadian province's ...
However, during the 1980s oil glut Alberta's economy suffered. Alberta boomed once again during the 2003-2008 oil price spike. In July 2008 the price of oil peaked and began to decline, and Alberta's economy soon followed suit, with unemployment doubling within a year. By 2009 with natural gas prices at a long-term low, Alberta's economy was in ...
By Julie Gordon (Reuters) - Alberta Premier Rachel Notley said on Sunday that the Western Canadian province would mandate temporary oil output cuts to deal with a pipeline bottleneck that has led ...
The Alberta government's Energy and Utilities Board (EUB) estimated in 2007 that about 173 billion barrels (27.5 × 10 ^ 9 m 3) of crude bitumen were economically recoverable from the three Alberta oil sands areas based on then-current technology and price projections from the 2006 market prices of $62 per barrel for benchmark West Texas ...
Pierre Trudeau responded to the embargo by imposing an oil export tax, forcing Alberta into giving a discounted price to the rest of the country at Alberta's expense. By 1975, the world price of oil had ballooned nearly 300%, to $12 a barrel, [ 70 ] but central Canada was buying Alberta's oil for just $6.50 a barrel.
Alberta has the world's third-largest oil reserves and is the top source of foreign oil for the U.S. Alberta's premier plans to announce Sunday whether her government will impose industrywide oil ...