COVID-19 info for Albertans

Alberta is taking action to protect Albertans and prevent the spread of the novel coronavirus. Find out more at alberta.ca/COVID19

Overview

We’re providing economic relief to Alberta’s energy industry to address challenges resulting from the COVID-19 pandemic and declining oil prices due to an international price war. The energy sector supports more than 500,000 jobs across Canada

Initiatives

Funding the Alberta Energy Regulator levy

We’re funding the Alberta Energy Regulator industry levy for a 6 months, achieving $113 million in industry relief.

Extensions for oil and gas tenures

Were extending the term of mineral agreements expiring in 2020 by 1 year to provide increased certainty for industry by allowing additional time to raise capital and plan future activities.

Orphan Well Association loan

A $100 million loan was recently extended to the Orphan Well Association to bolster immediate reclamation efforts, decommission about 1,000 wells, and start more than 1,000 environmental assessments – creating up to 500 direct and indirect jobs.

News