November 28, 2012 / 6:04 PM / 5 years ago

Discounted bitumen prices hitting Alberta's coffers

CALGARY, Alberta, Nov 28 (Reuters) - Alberta’s government said on Wednesday it still expects a wider deficit than it had initially budgeted for as prices for the crude wrung from the western Canadian province’s vast oil sands sells at a deep discount to U.S. benchmark oil.

In a second-quarter budget update, Alberta said it expects its 2012-2013 deficit will be between C$2.3 billion and C$3 billion ($2.3 billion and $3 billion) with revenues for the first six months tracking C$1.4 billion below expectations.

It originally planned for a deficit of C$886 million, but realized by the end of the first quarter that the likely shortfall was widening.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below