Notley optimistic on partnership building new oil refinery
Alberta Premier Rachel Notley says her government has met with about a dozen companies about potentially building a new oil refinery.
Last month the province invited the industry to pitch a brand new refinery or an expansion of an existing one — as long as it uses Alberta-produced oil.
Notley told Canadian Press at the time it was too early to provide specifics on what the province might offer in any construction deal.
The deadline for submissions is Feb. 8.
Notley told cabinet ministers in Calgary Monday that the demonstration of interest so far has been encouraging.
She says Albertans have been getting pennies on the dollar for their resources for far too long and something has to change.
“We know that more refining and upgrading adds value and creates jobs and it means that we’re able to deliver on the full potential of the resources that we own. We’re not going to let up,” Notley told Canadian Press.
She added that refining more Alberta oil in-province also acts as a buffer when there isn’t enough pipeline capacity to get Alberta crude to market, which leads to a price discount.