White Rose production increase approved

The provincial government has approved a production increase for the White Rose oil field, taking annual maximum production from 36.5 million barrels up to 50 million barrels.

The production increase will likely mean the project will achieve payout sooner. As a result provincial royalties will increase to 30% per barrel once payout is achieved.

According to the Globe and Mail, this production increase request was submitted at the same time as a proposal to bring additional oil on stream. That proposal hasn't been approved yet.

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