Alberta to overhaul ‘flawed’ scheme that regulates old oil and gas infrastructure [Financial Post (Toronto, Ontario, Canada)]
Canadian Natural Resources Limited (CNQ)
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Source: Financial Post
Alberta to overhaul 'flawed' scheme that regulates old oil and gas infrastructure Some of the province's largest companies have been critical of the current regulations CALGARY – The Alberta energy regulator will soon unveil sweeping changes to how it regulates its old oil and gas infrastructure, including a complete overhaul of an environmental liability rating scheme it now considers a “flawed system.” In December, the AER stopped its longstanding practice of publishing liability management ratios (LMRs) for every oil and gas company operating in the province, which were used to measure the value of a company’s assets against its total deemed liabilities. The AER then limited companies with a low LMR score from buying assets that would add to their liabilities. A full review of how the government and regulators handle oil and gas clean-up rules is years, if not decades, overdue, Alberta Energy Minister Sonya Savage said in an interview with the Financial Post. She confirmed the prov
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