Alberta Sues Oilsands Firms For $100 Million In Royalties Dispute
EDMONTON — The Alberta government is suing a handful of oilsands companies for $100 million for allegedly failing to pay the province its share of revenues from the Syncrude Royalty Project.
“Despite demands, the defendants have refused to pay the unpaid royalty proceeds or any part thereof,” says the statement of claim filed Monday with Court of Queen’s Bench in Edmonton.
The lawsuit centres on bitumen produced at the Syncrude project near Fort McMurray, and relates to the changeover of the province’s royalty framework in 2008 and 2009. The owners of the joint venture are named as defendants, including Canadian Oil Sands Partnership No. 1, Imperial Oil Resources, Nexen Oil Sands Partnership, Mocal Energy Ltd., Murphy Oil Company Ltd., Suncor Energy Oil and Gas Partnership, Sinopec Oil Sands Partnership and Syncrude Canada Ltd.
Alberta Energy spokesman Bart Johnson characterized the move as a “placeholder” in ongoing negotiations.
Read more: [ edmontonjournal.com ]
Short URL: http://woodlawnpost.com/?p=48238
Posted by WoodlawnPost
on May 4 2012. Filed under Energy.
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