- Canada's main oil-producing province of Alberta on Thursday said the 2023/24 budget surplus would be smaller than initially estimated, partly due to losses incurred by the Sturgeon refinery, which is joint-owned by the province.
But net income from government business enterprise was C$1.5 billion lower than forecast, mainly because of a C$1.3 billion non-cash adjustment to the Sturgeon Refinery's processing agreement, the province said."The additional decrease from budget was due to a larger loss than was budgeted at the Sturgeon Refinery due to weaker commodity prices," Alberta said in its year-end report.
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Budget Surplus Alberta Government Sturgeon Refinery
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