Alberta records unexpected $8.3-billion surplus off higher resource royalties

Massive oil and gas revenues driven by strong global crude prices and record production helped Alberta end the 2024-25 fiscal year with an unexpected $8.3-billion surplus. The surplus, announced Friday in Alberta Finance Minister Nate Horner’s year-end fiscal update, was roughly $8-billion higher than the province predicted in its February budget, and $4-billion more than the previous fiscal year. Non-renewable resource revenues alone were $4.7-billion higher than the province had forecast.