Oil-sand megaproject era in Canada seems to be over
Various factors are driving producers from Suncor Energy to Imperial Oil to accelerate the shift to smaller projects
Fri, Jun 19, 2015 - 5:50 AM
Suncor Energy's oil-sands mine near Fort McMurray, Alberta, Canada. Firms are deferring new mines in favour of cheaper, bite-sized drilling programmes that deliver quicker returns and require less labour.
THE era of the megaproject in Canada's oil sands is fading.
Crude's price slump, pressure to get off fossil fuels and tax increases in Alberta are adding to high costs and a lack of pipelines, prompting producers from Suncor Energy Inc to Imperial Oil Ltd to accelerate a...