CALGARY, Oct. 24, 2019 /CNW/ - Alberta Government announced the cancellation of the Funding Programs for Partial Upgrading and Refining.
The Government has, however, recommended Value Creation Group ("VCG") to pursue a separate new program which, in fact, could better serve our alliances.
Dr. Columba Yeung, Chairman of VCG, remarks:
VCG remains confident that our Government will champion the actualization of our Vision:
[ Clean Oil Corridor ] - moving Premium Crudes and Ultra Quality Products
from Alberta to Asian and North American Markets,
re-vitalizing Alberta's economy and employment.
VCG has already established "Bitumen Supply and Product Off-take" interests well beyond its initial target ( for contract-based leveraged financing ).
VCG is pursuing " Participative Strategic Partnership " with (super-) Major(s), to ensure and enhance Excellence in execution, operation and trading.
VCG has recently embarked on campaign to develop " Asian Strategic Partnership ", crucial for:
While in the early stages of the campaign, we have experienced strong interests with all major oil companies we have met to date.
Value Chain Solutions Inc. ("VCS"), a subsidiary of VCG, intends to move forward with its First Commercial Project at Heartland ( up to 188 kbpd approved capacity ) early next year.
VCS has embarked on stakeholder consultations for an Expansion of its Heartland Complex to about 750 kbpd, an anchor component of VCG [ Clean Oil Corridor ].
This notice or the information contained herein is not being issued in or into and may not be distributed directly or indirectly in or into, the United States of America or any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.
CAUTION ON FORWARD-LOOKING STATEMENT ? DISCLAIMER
This communication is based on information available when this communication was prepared and is provided as a matter of convenience only. VCG makes no warranty or representation, express, implied, statutory or otherwise, as to the accuracy or completeness of the information contained in this communication. VCG disclaims liability for any reliance upon any information or representation contained in this communication, for any omissions from this communication, and for any written or oral communications made by VCG or its representatives in connection with this communication. This communication does not necessarily contain all the information that a recipient may require or desire. Any reliance or use of such information is done at the recipient's sole risk. This communication is not and under no circumstances is it to be construed as an advertisement or offer to sell any securities of VCG. Certain statements contained in this communication may be prospective in nature and constitute forward-looking statements. Such statements involve known and unknown risks, uncertainties, and other factors that could cause VCG's actual results, performance or achievement to differ materially from those expressed in, or implied by, the forward-looking statements. Accordingly, no assurance can be, and none is given in this communication that any of the forward-looking statements will transpire or occur, or if any of them do so, what benefits VCG will derive therefrom. VCG disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Value Creation Group
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