The Alberta government has confirmed plans to merge several petroleum regulatory agencies and will close several other industry related organizations.
The Alberta Energy Resources Conservation Board, which is the province's main regulatory body', and the Public Utilities Board, which sets utility rates, will be merged. The combined boards will be known as the Alberta Energy and Utilities Board.
Energy Minister Patricia Black said purpose of change is to streamline the regulatory process for industry and reduce paperwork.
The government also plans to fold three other agencies: the Alberta Oilsands and Technology Research Authority (Aostra), Alberta OH Sands Equity, and Alberta Petroleum Marketing Commission. Their functions will be merged into the Energy Department.
Aostra is responsible for oilsands research. Oil Sands Equity manages government interests in oilsands and heavy oil projects. The marketing commission sells the province's royalty share of oil production. Royalties will be collected in cash when the change is completed.
Gerry Protti, president of the Canadian Association of Petroleum Producers, welcomed the changes. He said administrative changes will bring yield costs for government and industry.
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