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Alberta`s regulatory changes to save oil and gas sector $170 million
CALGARY - The energy industry will save as much as $170 million on regulatory changes already underway to streamline the system, the province announced Monday.
The work was highlighted in a progress report by a task force, set up as part of the province`s competitiveness review of the oil and gas industry.
"We`ve made progress addressing costly inefficiencies in the current oil and gas regulatory system while maintaining Alberta`s high environmental standards," task force chair and Drayton Valley-Calmar MLA Diana McQueen said in a statement. "Alberta is on track to renew our oil and gas regulatory system and make it modern, flexible, effective and efficient."
The report said savings for time and cost are being seen for both industry and government, while protecting environmental and safety standards.
Annual financial savings are estimated between $80 and $170 million, the report said.
Read the full article here.
CALGARY - The energy industry will save as much as $170 million on regulatory changes already underway to streamline the system, the province announced Monday.
The work was highlighted in a progress report by a task force, set up as part of the province`s competitiveness review of the oil and gas industry.
"We`ve made progress addressing costly inefficiencies in the current oil and gas regulatory system while maintaining Alberta`s high environmental standards," task force chair and Drayton Valley-Calmar MLA Diana McQueen said in a statement. "Alberta is on track to renew our oil and gas regulatory system and make it modern, flexible, effective and efficient."
The report said savings for time and cost are being seen for both industry and government, while protecting environmental and safety standards.
Annual financial savings are estimated between $80 and $170 million, the report said.
Read the full article here.