Share This Profile
Share this profile on Facebook.
Link to this profile on LinkedIn.
Tweet this profile on Twitter.
Email a link to this profile.
See other services through which you can share this profile.
This profile was last updated on 5/11/15  and contains information from public web pages and contributions from the ZoomInfo community.

Mr. Ian S. MacGregor

Wrong Ian S. MacGregor?


Local Address: SW Calgary, Alberta, Canada
North West Upgrading Inc.
205 Riverfront Ave. SW
Calgary , Alberta T2P 5K4

Company Description: North West Upgrading is a private, Calgary-based company established for the purpose of constructing and operating an upgrading facility that will convert bitumen...   more

Employment History

Board Memberships and Affiliations


  • Bachelor of Science , Mechanical Engineering
    University of Calgary
153 Total References
Web References
"I think the environment is better ..., 11 May 2015 [cached]
"I think the environment is better now [for the next two phases]," Ian MacGregor, president, chief executive and chairman of the board of Calgary-based North West Upgrading Inc. (NWU), said in an interview.
MacGregor said the NWU upgrader, being built in Sturgeon County, northeast of Edmonton, will definitely be profitable and his company, a partnership that includes 50 per cent owner Canadian Natural Resources Limited (CNRL), is ready to build all three phases, which would ultimately upgrade 237,000 bbls of bitumen per day.
"I came to build all three phases," said MacGregor, an engineer with over 30 years of energy related business creation and development experience, including oilfield engineering and construction company Abax Energy Services and White Pass Capital Inc., a private investment and advisory firm.
Morton critique
Although construction costs for the project, now about 25 per cent complete, ballooned to $8.5 billion when construction started last year from an estimated cost of $5.7 billion when it was announced in 2012, MacGregor said recent criticisms of the project by Ted Morton, former provincial finance and energy minister, "are based on errors in arithmetic."
MacGregor said Morton's paper was wrong in a number of areas.
To begin with, its calculations were based on processing the wrong volumes of raw bitumen, which led to a miscalculation of the processing fee.
Morton's paper determined the costs per bbl based on 50,000 bbls per day of raw bitumen, when, in fact, the plant will process about 79,000 bbls daily, said MacGregor.
If the North West Upgrader, expected to go into operation in the fall of 2017, had already been in operation in the last year - even at low oil prices - the government would have made a profit on its investment in the plant, which comes through a cost-of-service fee it will pay to NWU (75 per cent of the volumes to be processed, with CNRL paying 25 per cent), said MacGregor.
"Even at the low prices of the last few months the government would have made $150 million," he said. "If it had been in operation when they [oil prices] were higher they would have made $200 million."
Furthermore, he said, those profits will increase in the future as NWU pays off the debt it has had to raise to build the project.
"Every year we're paying off three per cent of the debt and the processing fee goes down."
MacGregor pointed out that CNRL, a company known as an astute investor, continues to be committed to the project, suggesting it makes economic sense.
"Murray (Edwards, CNRL's chairman) is famous for doing the math," he joked.
MacGregor said the tolling approach being taken to help finance the project and pay off its debt is a standard formula used widely in the energy industry, particularly by pipeline and midstream companies.
He believes that even if former Conservative Premier Jim Prentice had won re-election the next two phases of the NWU project, which will be of equal size, would have had a good chance of going ahead.
"I think Prentice was a conservative guy, but he said they [the government] would live up to the contracts [with NWU]," he said.
Project expansion prospects
But now that the NDP has been elected MacGregor said the prospects for the project to expand are very good.
"I think it's clear that Premier-elect Notley understands the refining business," he said.
MacGregor went on to point out that the NWU is actually more of a refinery than an upgrader.
"We're engineers [the original planners of the project] and we misnamed it," he said.
That's also a flaw in Morton's analysis, as well as on the part of other critics of the project, MacGregor said.
While oilsands producers might continue to have difficulty transporting their bitumen to the West Coast, for export from there, "diesel is going there now" and exports can grow without huge export barriers coming in the way, said MacGregor.
The CO2 will be sold to Enhance Energy Inc., which is developing a complementary project (MacGregor is a chairman of its board) that will include the 240-kilometre, 16-inch diameter Alberta Carbon Trunk Line.
"We think there's one billion barrels [that can be produced by using EOR] in central Alberta," said MacGregor.
"I believe we're aligned with the same objectives [as the new government]," said MacGregor.
Ian MacGregor, Chairman of ..., 16 Nov 2014 [cached]
Ian MacGregor, Chairman of the Board, President & Chief Executive Officer
Mr. Ian MacGregor is an engineer who has spent his career starting and running successful technical businesses in every area of the energy industry, from services and exploration, to processing and marketing.
Mr. MacGregor has led North West Capital, a private investment company, and its predecessors since 1974. His specialty is starting from scratch, usually with a novel idea or at the very least, a different approach, and having the tenacity to operationalize it and make it a success. He continues to have significant interests and involvement in many of the Alberta-based companies which he founded.
Governance - Board of Directors, 8 Mar 2014 [cached]
Ian MacGregor | Chairman of the Board
Mr. MacGregor is a successful, independent businessman with over 30 years of business creation and development experience. He founded and co-founded several businesses including: Abax Energy Services, an oilfield engineering and construction company; Solex Energy, a private oil and gas company; and White Pass Capital, a private investment company. His primary interests and responsibilities lie in the areas of finance, new and existing business development, and asset and business turnarounds, improvement and optimization.
Mr. MacGregor has considerable experience in creating economic value in conjunction with large partners such as PanCanadian Energy and Brooklyn Union Gas. Mr. MacGregor continues to have significant interest and involvement in numerous Alberta-based companies.
Seaway System - News and Information - Press Releases [cached]
December 13, 2006: Ian MacGregor Appointed to Seaway Board of Directors November 6, 2006: Seaway Appoints New Director of Market Development
Seaway System - Management of the Seaway - SLSMC - President and Board, 7 Nov 2012 [cached]
Ian MacGregor Domestic Carrier Representative
Other People with the name "MacGregor":
Other ZoomInfo Searches
Accelerate your business with the industry's most comprehensive profiles on business people and companies.
Find business contacts by city, industry and title. Our B2B directory has just-verified and in-depth profiles, plus the market's top tools for searching, targeting and tracking.
Atlanta | Boston | Chicago | Houston | Los Angeles | New York
Browse ZoomInfo's business people directory. Our professional profiles include verified contact information, biography, work history, affiliations and more.
Browse ZoomInfo's company directory. Our company profiles include corporate background information, detailed descriptions, and links to comprehensive employee profiles with verified contact information.