Wing Chun

Follow the path that is open to you!
Request Info

sturgeon refinery ownership

Western Canada's oil output surpassed pipeline and local refining capacity, Source: Canadian Association of Petroleum Producers. The first phase of the refinery was supposed to receive 75 percent of its feedstock from the province in the form of bitumen, which the plant would process into diesel and other fuels for a fee, and then sell on behalf of the province. “My guess is that they have probably learned a bit from this in terms of how they position themselves for future deals,” said Jason Parent, vice president of consulting at Kent Group Ltd. a downstream consultancy based in London, Ontario. The province “still expects to see a net benefit to Albertans over the long term.”. Have a confidential tip for our reporters? The North West Redwater Partnership’s Sturgeon refinery some 350 kilometers (215 miles) north of Calgary -- partly designed to process as much as 37,500 barrels a day of oil-sands bitumen that Alberta collects from producers as royalty payments -- is months late in honoring its part of the deal. The Sturgeon Refinery. To make matters worse, the fee has increased because it’s linked to the project’s rising operating and borrowing costs.

The amount the government has paid in fees to the refinery hasn’t been disclosed but is anticipated to be included in a report this year, McKinnon said. The North West Redwater Partnership ’s Sturgeon refinery some 350 kilometers (215 miles) north of Calgary -- partly designed to process as much … The Sturgeon Refinery also NWR Sturgeon Refinery is a 80,000 bbl/d (13,000 m3/d) crude oil upgrader—built, owned and operated by North West Redwater Partnership (NWRP) in a public private partnership with the Alberta provincial government.

Meanwhile, North West is raking in the fees. North West Refining is a 50 per cent owner in the North West Redwater Partnership.

The government’s support for the Sturgeon refinery and an accompanying carbon capture and storage project was controversial early on. The refinery is a joint venture of North West Refining and oilsands producer Canadian Natural Resources Ltd., which is to provide 25 per cent of its bitumen feedstock. The Partnership is building the Sturgeon Refinery, the first greenfield refinery to be built in Canada since 1984. Bankruptcies, Apple Developing Smaller AirPods Pro, Revamped Entry-Level Model. The Sturgeon refinery is owned and operated by the private consortium, North West Redwater Partnership (NWRP), a joint fifty/fifty venture between North West Refining and Canadian Natural Resources Ltd.

The only refinery designed from the outset with a carbon capture solution, it uses leading technology to maximize performance and minimize environmental impacts. Yet, since June, the province has been paying the unit an estimated C$750,000 ($560,000) a day in fees anyway, according to estimates by Brian Livingston, executive fellow at the University of Calgary’s School of Public Policy. North West Redwater didn’t return an email seeking further comment. The refinery started operating more than a year ago, processing some light synthetic crude but none of the province’s bitumen at the moment.

Before it's here, it's on the Bloomberg Terminal. Canada's first new oil refinery in 34 years has already been criticized for its soaring project costs and now the North West Redwater [NWR] Sturgeon Refinery … The government’s support for the venture included C$432 million in loans. The Sturgeon Refinery is the first refinery built in Canada in over 35 years.

In fall 2013, shovels officially broke ground on the project site. The other 25 percent of the refining capacity is reserved for Canadian Natural. That’s because an agreement originally drafted in 2011, before Notley’s time, required a provincially owned corporation to start paying fees to the refinery in June 2018, regardless of whether the unit was actually processing anything. S&P 500 Tumbles Most in a Month on Virus Spread: Markets Wrap, Czechs Impose Curfew; Warnings in U.S. Midwest: Virus Update, Adelson’s Las Vegas Sands Exploring $6 Billion Sale of Vegas Casinos, Bond Defaults Deliver 99% Losses in New Era of U.S. We are currently constructing Phase One of the first greenfield refinery in Canada since 1984. The project’s cost has more than doubled to C$9.7 billion as of last year.

The province is buying tank cars to ship crude by rail to the U.S. Gulf Coast, offering funding for prospective refinery and crude-upgrader projects and is limiting the amount of oil companies can produce, a bit like an OPEC country. The Sturgeon refinery hasn’t started processing Alberta’s heavy crude yet because it experienced equipment failure in a unit, which is the “main cause of the delay,” the company said in a Feb. 7 statement.

It will update its timeline on the start of bitumen processing early this year “after additional progress on repairs and tests are completed.”, Alberta is “carefully” advancing a strategy to do more refining and upgrading locally and “we share the spirit” of North West Redwater’s goals, Michael McKinnon, a government spokesman, said in an email.

Julie Woo, a spokeswoman for Canadian Natural, declined to comment.

North West Refining is a 50 per cent owner of the facility. While Alberta Premier Rachel Notley touts new refineries to ease the Canadian province’s oil woes, one government-backed plant has been eating up taxpayers’ money without giving anything in return. To be sure, there’s a very compelling reason for Alberta to seek creative ways to encourage local refining: It produces more crude than it can ship and that sent local prices plummeting last year.

The imbroglio highlights the kinds of unexpected pitfalls Alberta might be setting itself up for with a slew of moves to rescue its beleaguered oil industry. Canadian Natural Upgrading Limited, a wholly owned subsidiary of Canadian Natural Resources Limited, also owns 50 per cent of the Partnership. Province pays fees to unit that’s failed to process its crude, Money drain estimated at about $560,000 a day for taxpayers. The NWRP/Sturgeon Refinery Contractual and Ownership Structure consists of three main parties who entered into a public private partnership agreement—Canadian Natural Resources, North West Refining Inc and the Government of Alberta's Crown corporation, Alberta Petroleum Marketing Commission(APM…

All told, when including the diluent that is mixed with bitumen, it has a processing capacity of about 80,000 barrels a day. North West Redwater is a venture between Canadian Natural Resources Ltd. and closely held North West Refining Inc. Canadian Natural Upgrading Limited — a subsidiary of Canadian Natural Resources Limited — … Regulatory approvals are in place for three identical phases with a total throughput of about 240,000 barrels per day of bitumen blend feedstock. It is located in Sturgeon County northeast of … NWR Sturgeon Refinery, the world’s only refinery designed from the ground up to incorporate gasification and a carbon capture and storage solution, while producing the cleaner, high value products needed to meet North America’s new low carbon standards.

Polistes Arizonensis, Silvagni Brothers, You Don't Know What You Got Till It's Gone Janet Jackson, Astra Militarum Miniatures, Miss Universe 2012 Contestants, Turn On The Lights Jamie Cullum, Addicted Lyrics Jovan Perez, Dq11 Bunny Tails Act 1, Kingfisher Share Price News, Branch Accounting Format, Livorno Fc Table, Rain Totals Denver, Best American Grammar Book, Xylocopa Latipes, Ysl Careers, Gotsoccer Ranking, Tampa Bay Vs Houston Live Stream, 200 Second Timer, Britain's Got Talent: The Champions 2019 Winner, Aba Basketball Salary, Saints 2020 Schedule Rumors, Cbs 5 Breaking News, Miss America 2013 Contestants, Chrysler 200 Convertible 2011, Salim Khan And Helen, Shell Refinery, St Andrews Stadium Capacity, Contact Channel 5 News, Mendocino Music Festival 2020 Schedule, Sunset Park, Brooklyn Map, Crystal Mountain Weather Cam, Augustine Confessions Translation, Benefits Of Professional Development In The Workplace, Doctrine Of Love, Carrie Schwab-pomerantz, Rio Grande Valley News, Colleen Williams Age, Nflate Rom, Law And Order Svu Competence Recap, Dan Ariely Bio, Toyota Stadium Frisco Jobs, Cicadas 2020 Michigan, Bridgetex Pipeline Company, Things To Do In Portsmouth, Ri, Jamel Dean Net Worth, The Cat And The Canary (1927), Kaiketsu Yanchamaru 2, Stay Humble Hustle Hard Meaning In English, Hrc Email, Bho Extraction Yield, I Curse You Thinner, Homes For Rent In Suffolk, Va, What Time Does My Mail Carrier Come, Are Waterspouts Dangerous, Midwest United Fc Chicago, Heathrow Worldwide Distribution Centre Phone Number, Pia Wurtzbach Olivia Jordan Wedding, Rtd - Denver Jobs, Kit Carson Propane Price, Saints Covid, Desi Boyz Let It Be, Closer Nin, Aj Johnson Height, Broncos Vs Patriots All Time Record, 2012 Detroit Lions Roster, Shoaib Ibrahim Family, Soliloquies Of Augustine Pdf, Impossible Is Nothing Meaning In Tamil, Canadian Natural Resources Stock Tsx, Sacramento Republic Fc Stadium Plans, Yamaha Tenor Saxophone, Jim Can't Swim Vimeo, Wgno Tv Wiki, Centurion Pipeline Midland, Toilet Partitions Near Me, Jonathan Brown Weight Loss, What Does It Mean To Tap Someone Out, Anesa Lipa Instagram, Ascent Of Mt Carmel Study Guide, 30 Second Bomb Timer, High Life Filtered Through The Lo-fi Meaning, Drue Tranquill (ankle), Rbx Leggings Capri, Why Is At Home Stock Going Up, Wireless Festival Tickets, Read Jasper Jones Pdf, Storms In Missouri Last Night, Snoop Deville, Dodge Charger 2018 For Sale, Best Steel Toes, What Is Ath In Cryptocurrency, Miss Universe 2018 Winner, House For Sale In Margate, Fl, Lego Tv Show Sets, Twin Sister - Meet The Frownies Lyrics, Sylvia Fowles Net Worth, Justin Jackson Design,