Alberta Record

· Order in Council / APMC governance reset · in-force

Alberta petroleum marketing commission authority expansion

This Order in Council expands the Alberta Petroleum Marketing Commission's authority to borrow, invest, guarantee obligations, and acquire subsidiaries for the North West Redwater refinery, and authorizes the Minister of Finance to provide…

High impactCentralization of powerInstitutional independenceThe public, directlyIndependent watchdogs

What changed

  • Authorizes the Alberta Petroleum Marketing Commission (APMC) to borrow money for the North West Redwater (Sturgeon) refinery's financing and operations.
  • Authorizes the APMC to purchase shares, make loans, enter joint ventures, and guarantee obligations for the refinery's financing and operations.
  • Authorizes the APMC to incorporate or acquire subsidiary corporations for the North West Redwater (Sturgeon) refinery.
  • Authorizes the Minister of Finance to make advances to or purchase securities of the APMC for the refinery's financing and operations.
  • Authorizes the Minister of Finance to raise money through Government securities to fund these advances and purchases.
  • Establishes a maximum aggregate principal amount of $2.9 billion for all outstanding borrowings, advances, and Government securities related to the refinery.
  • Rescinds and replaces four previous Orders in Council (O.C. 115/2020, O.C. 273/2020, O.C. 176/2021, O.C. 214/2021).

Why it matters

  • Expands the operational and financial scope of the Alberta Petroleum Marketing Commission beyond its traditional mandate.
  • Centralizes significant financial decision-making and risk management for the North West Redwater refinery within the APMC and the Ministry of Finance.
  • Increases the potential financial exposure of the Crown in right of Alberta through direct advances, security purchases, and guarantees related to the refinery.
  • Consolidates and updates the legal framework governing the financial arrangements for the refinery, replacing multiple prior orders.

Rights affected

  • Access to information — The ability to see public records and government decisions.

Other governance concerns

  • Increased financial liability for the provincial government and taxpayers.
  • Expanded scope of a Crown corporation's activities without direct legislative approval for each specific investment or guarantee.
  • Potential for reduced transparency regarding specific financial transactions under the broad authorizations.

Primary sources (1)