Alberta Petroleum Marketing Commission annual report, 1991

The Alberta Petroleum Marketing Commission has the responsibility of selling the Crown's royalty share of Alberta's crude and synthetic oil production; similar services are provided for natural gas. The Commission also markets crude oil on behalf of producers to North American and offshore consumers. The Commission's position as the largest crude oil marketeer in Canada enables it to provide analyses of industry pricing and marketing trends to the Alberta government. In 1991, the middle east crisis caused prices to spike at the commencement of the Gulf war, but these quickly stabilized. The Commission's receipts of light and medium royalty oil totalled 45.3 million bbl, down 1.5% from 1990, and receipts of heavy crude were 6.1 million bbl, up 5% from 1990. Revenue from crude oil sales was $1,642,244,000, down from $2,078,197,000 in 1990. Loss of the Montreal market through pipeline closure led to increased pressure on prices, particularly on heavy crudes. The Commission's natural gas activities in 1991 included price determination and information collection. 9 figs., 1 tab