Alberta says premier in talks with potential overseas heavy oil buyer

Lauren Krugel · The Canadian Press

· Posted: Mar 11, 2025 3:47 PM EDT | Last Updated: 13 minutes ago

The Alberta authorities says Premier Danielle Smith has been successful talks with a multinational lipid and petrochemical subordinate astir selling 2 cardinal barrels per period of province-owned dense oil.

In a quality release, it said determination was a gathering connected Monday, but it did not place the institution oregon accidental what portion of the satellite it is based in.

The state has announced it volition cod bitumen royalties successful the signifier of the dense lipid itself, arsenic opposed to cash, which Alberta's commercialized lipid and state agency, the Alberta Petroleum Marketing Commission, tin past sell. That means it tin harvester bitumen royalty barrels with accepted ones it already collects to bring important petroleum volumes to marketplace and spur private-sector investment.

"This programme gives the state greater accidental successful wherever we merchantability our oil," Smith said successful the quality release.

"Receiving bitumen royalties in-kind is different instrumentality successful our concern instrumentality container and volition springiness america the accidental to maximize our assets potential, go 1 of the astir important players successful the dense lipid marketplace and garner much worth for Albertans."

Energy Minister Brian Jean said the determination volition let Alberta to "promote accrued pipeline capableness and turn our planetary markets, which is bully for Albertans, for industry, and for planetary vigor security."

Adrian Begley, CEO of the Alberta Petroleum Marketing Commission, said the bureau volition question deals that are commercially prudent and marque consciousness for Alberta and its vigor industry.

"The accidental exists to find transactions that volition straight and indirectly unafraid other worth for Albertans, and the experienced squad astatine APMC is committed to doing conscionable that."

The determination comes arsenic Canada's commercialized narration with the United States — the biggest purchaser of Canadian lipid exports — deteriorates amid a confusing flurry of tariff announcements successful caller weeks from President Donald Trump.

On March 4, Trump imposed a 10 per cent tariff connected vigor imports and a 25 per cent tariff connected each different goods. Two days later, a month-long intermission was enactment connected goods that conscionable the rules-of-origin requirements nether the Canada-United States-Mexico Agreement connected trade, and potash fertilizer tariffs were lowered to 10 per cent.

On Tuesday, Trump said helium volition treble the tariff connected alloy and aluminum imports coming from Canada to 50 per cent successful effect to Ontario's surcharge connected energy exports to the United States.