Oil Sands
Firm’s oil sands costs continue to skyrocket
Canadian Natural Resources Ltd. said yesterday costs for its Horizon oil-sands project have risen to as much as $8.7 billion (Canadian), $1.9 billion more than initial estimates, as severe cold at its northern Alberta project site hampered construction.
Canada’s second-biggest oil explorer said construction at the site north of Fort McMurray, Alta., was 90 per cent [...]
Canada’s Suncor plans C$20 bln oil sands expansion
Suncor Energy, Inc. said on Wednesday it will spend C$20.6 billion ($20.8 billion) on an expansion scheme that will make it the biggest producer in the oil sands of northern Alberta.
Suncor’s board of directors gave the go-ahead for the Voyageur project, a 200,000 barrel-a-day expansion of the company’s already massive oil sands operations near Fort [...]
