Shell Canada: Carmon Creek oilsands project faces two-year delay
DAN HEALING, CALGARY HERALD: Published on: May 8, 2015
Royal Dutch Shell says first oil production from its 80,000-barrel-per-day Carmon Creek thermal oilsands project northeast of Peace River in northern Alberta will be delayed for two years until 2019.
The project was sanctioned by the company in October 2013 and estimated by analysts at the time to cost about $3 billion to build. Its delay was confirmed in a first-quarter update by chief financial officer Simon Henry on April 30, as he described how Shell would reduce capital spending by $2 billion in 2015 to $33 billion US or less.
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