Royal Dutch Shell Group .com Rotating Header Image

Financial Post (Canada): Calgary-based oil producer may invest up to $7.4-billion to develop oilsands crude

Calgary-based oil producer may invest up to $7.4-billion to develop oilsands crude
Financial Post – Canada; May 19, 2006

var html = getInAdHTML(“box”,FTSite,FTSection,FTPage,FTIndustry); document.write(html);


if (showAd == 1) { var o = DOMGetElement(“artAd”); if (o) { DOMElementShow(o); } } else { var o = DOMGetElement(“artImg”); if (o) { DOMElementShow(o); } }

North American Oil Sands Corp., a closely held Calgary-based company, may spend as much $7.4-billion by 2015 to develop heavy-crude deposits in northern Alberta.

The company plans to initially spend $850-million, senior vice-president Michael Langley said yesterday. Expansions that would push output and refining capacity to 160,000 barrels of oil a day could swell the total cost to $7.4-billion, he said.

Such companies as Shell Canada Ltd. and Suncor Energy Inc. are investing billions of dollars to tap Alberta's tar-like sands, estimated by the Canadian Association of Petroleum Producers to contain the most crude outside the Middle East.

North American said it may increase output 16-fold between 2008 and 2015.

This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Comments are closed.