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06-29-2022, 09:08 PM
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Join Date: Jan 2010
Location: WMU 226
Posts: 2,198
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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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As a man thinketh in his heart so he is
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06-30-2022, 08:12 AM
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Join Date: Dec 2008
Location: At the lake
Posts: 2,516
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Quote:
Originally Posted by ganderblaster
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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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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06-30-2022, 08:17 AM
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Join Date: Sep 2013
Location: Edmonton & Hinton
Posts: 514
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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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06-30-2022, 08:58 AM
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Join Date: Sep 2012
Posts: 6,269
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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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06-30-2022, 09:14 AM
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Join Date: Apr 2009
Location: Alberta for the most part
Posts: 2,811
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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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06-30-2022, 09:17 AM
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Join Date: Dec 2008
Location: At the lake
Posts: 2,516
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Quote:
Originally Posted by Big Grey Wolf
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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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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06-30-2022, 01:45 PM
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Join Date: Jan 2010
Location: WMU 226
Posts: 2,198
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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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As a man thinketh in his heart so he is
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06-30-2022, 01:53 PM
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Join Date: Nov 2016
Posts: 358
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Quote:
Originally Posted by ganderblaster
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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There is a second phase but the government wouldn’t let them build it. They want to carry on after the first phase.
Sent from my iPhone using Tapatalk
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06-30-2022, 02:05 PM
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Join Date: Jan 2010
Location: WMU 226
Posts: 2,198
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Quote:
Originally Posted by sweld
There is a second phase but the government wouldn’t let them build it. They want to carry on after the first phase.
Sent from my iPhone using Tapatalk
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Thanks for the info.
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As a man thinketh in his heart so he is
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06-30-2022, 06:20 PM
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Join Date: Dec 2008
Location: At the lake
Posts: 2,516
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Quote:
Originally Posted by ganderblaster
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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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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06-30-2022, 10:31 PM
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Join Date: Jan 2012
Location: 204
Posts: 5,445
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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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"I like to quote my own quotes" ~ Dewey Cox
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06-30-2022, 11:01 PM
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Join Date: May 2016
Location: Parkland County
Posts: 2,382
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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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