Alberta Searches for New Oil Marketer to Replace Nexen

Oil and Gas Investing

Reuters reported that Alberta is currently accepting proposals from parties who may be qualified to replace Nexen Inc. (TSX:NXY) in its role as oil marketer.

Reuters reported that Alberta is currently accepting proposals from parties who may be qualified to replace Nexen Inc. (TSX:NXY) in its role as oil marketer.

As quoted in the market news:

“Currently, Nexen markets 90 percent of Alberta’s government oil, taken from the industry as in-kind royalty payments, and the Alberta Petroleum Marketing Commission handles the rest.

Nexen’s contract expires on May 31 and the government posted a request for proposals at the end of last month.”

Click here to read the full Reuters report.

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