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Petro-Canada Faces Challenge
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The oil sands project by the Syncrude consortium which includes 12% ownership by Petro-Canada came in at twice the the original US$4.1 billion estimate. Petro -Canada faces similiar problems in its own project to produce 280,000 barrels a day by 2014. The project is expected to cost US $24.8 billion. Cost are rapidly escalating for oil sands projects and it require very good project execution skills. Oil price below $60 could change the viability of these projects.
Canada's oil sands projects face higher costs and stringent emissions caps.
07/11/2007
Alberta oil sands projects face rapidly increasing costs sometimes 2-3 times original projections and labor shortages, and technologies to meet emissions rules can be costly.
Grouped Articles
Canadian Regulator Waives Oil-Sands Enforcement Penalties
Wall Street Journal 06/13/2013
A sticky ending for the tar sands
Economist 01/15/2009
Leftist Party’s Win in Alberta May Affect Future of Oil Sands
New York Times 05/06/2015
Falling Crude Prices Upend Canada’s Oil Sands Projects
Wall Street Journal 07/23/2015
Oil Companies Stake Future on Canada
Wall Street Journal 07/11/2007
Marathon Oil to Pay $5.56 Billion For Canada's Western Oil Sands
Wall Street Journal 07/31/2007
Rapid cost increases for Canadian oil sands projects
09/12/2007
Petro -Canada faces risks in its oil sands project as project costs continue to rise as rapidly as oil prices, could end up 2-3 times the original estimate.
Linked Articles
Oil Sands Are Shifting in Alberta
Wall Street Journal 02/05/2008
Wall Street Journal 09/12/2007
Alberta tar sands projects are coming in at costs as high as twice the original estimate.
09/12/2007
A project by Petro-Canada came in at $4.8 billion, twice the original estimate. With costs rising and crude oil prices dropping below $50 a barrel, and viability of projects requiring price of $60, new projects may be cut.
Linked Articles
Wall Street Journal 09/12/2007
The Costly Compromises of Oil From Sand
New York Times 01/07/2009
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