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Nova Scotia secures offshore royalty deal


Published Oct 11, 2007
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White Rose Petro-Canada

The government of Canada and offshore oil and gas province Nova Scotia have agreed to solve a decades-old dispute over what happens with royalties got from oil companies.

A three-person panel will discuss “the Crown share” of royalties paid to the provinces: the share has topped 70 percent in the past, long a source of bitterness for the sparsely populated Atlantic province.

The Canadian Press report said Nova Scotia was once “given a choice” between an older, unsatisfactory Accord and a newer “equalization measure”, a grim choice no longer necessary if the new deal holds.




   

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