Alberta Searches for New Oil Marketer to Replace Nexen

Dec. 12, 2012 05:05AM PST

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.