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  #1  
Old 06-29-2022, 09:08 PM
ganderblaster ganderblaster is offline
 
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Default Sturgeon Refinery adds $2billion

Don’t want to get political but so many people were against this project when it was struggling to get built well look at it now!
https://edmontonjournal.com/news/pol...into-the-black

The government collected $4.4 billion more in taxes than was expected in the original budget and changes to the contract and ownership structure of the Sturgeon Refinery added another $2 billion to provincial coffers

Would love to see a break down on long term projected revenue as well
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Old 06-30-2022, 08:12 AM
Scott h Scott h is offline
 
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Quote:
Originally Posted by ganderblaster View Post
Don’t want to get political but so many people were against this project when it was struggling to get built well look at it now!
https://edmontonjournal.com/news/pol...into-the-black

The government collected $4.4 billion more in taxes than was expected in the original budget and changes to the contract and ownership structure of the Sturgeon Refinery added another $2 billion to provincial coffers

Would love to see a break down on long term projected revenue as well
I could never understand all the negativity that project garnered. It always seemed very well thought out to utilize bitumen in province to produce diesel, and capture CO2 in the process. Shipping a higher value product, through very limited pipeline space just made a lot of sense.
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  #3  
Old 06-30-2022, 08:17 AM
tranq78 tranq78 is online now
 
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Excellent news. More of the same please.

We need to refine more bitumen and export less.

I think we would all rather have the problem of how to export refined product versus how to export raw bitumen.

As for the critics, I can't help but wonder how many of them were trolls just trying to score a political brownie point. Best way to deal with self-appointed experts is to be successful. That shuts them up and makes them green with jealousy.
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Old 06-30-2022, 08:58 AM
Big Grey Wolf Big Grey Wolf is online now
 
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Great news, always knew the refinery converting low value bitumen into high value diesel was a good investment. A barrel of $300 diesel, much better than $90 barrel of WCS or $60 barrel of bitumen, plus All the Alberta jobs.
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Old 06-30-2022, 09:14 AM
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nimrod nimrod is offline
 
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But i heard there is going to be a diesel shortage come fall, not sure if this refinery will bump up the shortage
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Old 06-30-2022, 09:17 AM
Scott h Scott h is offline
 
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Originally Posted by Big Grey Wolf View Post
Great news, always knew the refinery converting low value bitumen into high value diesel was a good investment. A barrel of $300 diesel, much better than $90 barrel of WCS or $60 barrel of bitumen, plus All the Alberta jobs.
Agree x100
I'm not even vaguely knowledgeable on the logistics of moving diesel by rail, but Google tells me that each rail tanker holds 700 barrels. There does seem to be some very compelling arguments to the economics.
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Old 06-30-2022, 01:45 PM
ganderblaster ganderblaster is offline
 
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With the way things are going they should double production or build another one by Calgary. Alberta could be self sustaining with energy
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Old 06-30-2022, 01:53 PM
sweld sweld is offline
 
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Quote:
Originally Posted by ganderblaster View Post
With the way things are going they should double production or build another one by Calgary. Alberta could be self sustaining with energy

There is a second phase but the government wouldn’t let them build it. They want to carry on after the first phase.


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Old 06-30-2022, 02:05 PM
ganderblaster ganderblaster is offline
 
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There is a second phase but the government wouldn’t let them build it. They want to carry on after the first phase.


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Thanks for the info.
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Old 06-30-2022, 06:20 PM
Scott h Scott h is offline
 
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Quote:
Originally Posted by ganderblaster View Post
With the way things are going they should double production or build another one by Calgary. Alberta could be self sustaining with energy
I remember watching Ian Macgregor talking on a Financial Post video explaining how the refinery was designed to be added onto, with what's there only the first of 3 phases (?). He made it sound like the major part of the infrastructure is already in place and it's not a huge job (relatively speaking ) to add on more capacity in sections while it remains in operation.
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Old 06-30-2022, 10:31 PM
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Dewey Cox Dewey Cox is online now
 
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I'm not even allowed to keep a single sturgeon to eat, but meanwhile someone is building a sturgeon refinery?
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Old 06-30-2022, 11:01 PM
jstubbs jstubbs is offline
 
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Nice to hear that thing is finally starting to earn it's keep.

The Sturgeon/NWR refiner was up until these past few months a complete financial disaster. It was a $1,880,000,000 loss to the Alberta gov't (via the APMC) in 2019 alone. Yup, $1.88 billion.
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