Shell Delays Oil Sands Expansion

Jose Michael

Financial Times. Royal Dutch Shell has delayed a decision on the second phase of the expansion in its Athabasca oil sands project.

...Jeroen van der Veer, the chief executive, said the company would “wait for costs to cool down...before any new investment decision is made&rduqo;.

Projects in the oil sands of Alberta, which are fiercely criticised by environmentalists, are among the world’s highest-cost oil developments. In recent weeks, several companies operating there, including Suncor, PetroCanada, Nexen and Opti Canada, have delayed investment plans.

Shell’s oil and gas production fell by 6.6% in the third quarter, mostly caused by hurricanes in the US and planned maintenance in the North Sea.
0 Responses to "Shell Delays Oil Sands Expansion"

Post a Comment