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Alberta backs new $5 billion refinery plan

Wed, 02/16/2011 - 8:26am
Reuters

CALGARY, Alberta (Reuters) - The Alberta government is backing construction of a C$5 billion ($5.05 billion) bitumen upgrading refinery planned by Canadian Natural Resources Ltd and North West Upgrading Inc as it seeks to develop energy-processing facilities in the province and create jobs.

Under the agreement, the culmination of more than a year of talks between the parties, the Western Canadian province will supply 75 percent of the feedstock and Canadian Natural the remainder for the 50,000 barrel a day plant.

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