Suncor Energy and Petro-Canada announced that the Canadian Competition Bureau approved the proposed merger of the two companies. The approval will be registered with the competition tribunal in Ottawa in the form of a consent agreement, noting the companies have agreed to maintain competition in Ontario on both the retail and wholesale sides.
The government of Alberta announced that the proposed program for bitumen royalties in kind will likely not be implemented for at least two years. The government issued a request for expressions of interest in August, 2008, and received 20 submissions. It has also passed legislation allowing it to make regulations for bitumen royalties in kind and the government hopes to issue a request for proposal from private companies interested in managing the program by the end of July, 2009. A spokesperson for Alberta’s energy department announced the regulations necessary for a bitumen royalty in kind policy would likely be developed in the 2010 to 2011 time frame.