ALBERTA ROYALTY STRUCTURE CHANGES SEEN LACKING

Canadian petroleum companies have welcomed a revamp of Alberta's royalty structure but say it falls short of what is needed to revitalize activity in the province. The changes will give producers a cut in royalties of at least $170 million (Canadian)/year, offer incentives for new drilling, and index royalty levels to prices. The new royalty plan also will reward companies that funnel more capital into increased exploration programs.

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