CALGARY, Alberta, July 8 (Reuters) - Royal Dutch Shell Plc (RDSa.L:Quote, Profile, Research) has canceled plans to build a new multibillion-dollar refinery near Sarnia, Ontario, due to poor market conditions and surging costs, the oil major said on Tuesday.
Posts on ‘July 8th, 2008’
UPDATE 1-Shell scraps plans for new Canadian refinery
Shell may process oil sands crude at US refineries
Shell may process oil sands crude at US refineries
Tue Jul 8, 2008 1:59pm EDT CALGARY, Alberta, July 8 (Reuters) – Royal Dutch Shell Plc (RDSa.L: Quote,Profile, Research, Stock Buzz) may process tar-like crude from its Canadian oil sands holdings at some of its U.S. refineries, rather than at a proposed C$27-billion ($26-billion) plant in Alberta, the head of the oil major’s Canadian unit said on Tuesday.Shell is still evaluating options and the timing for future phases of its Athabasca oil sands project, which now produces 155,000 barrels a day.
The company and its partners have proposed boosting oil sands output to 770,000 barrels a day over the next several years, and two years ago announced plans for an upgrading plant to be built in four 100,000-barrel-a-day stages.
“There’s a range of options being looked at. One potential outcome is that all that upgrading’s done in Alberta,” David Collyer, Shell’s country chair for Canada, told reporters.
Shell Canada announces refinery project dead
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Shell Sarnia Refinery Project Halted
Major disappointment for Sarnia Lambton Tuesday. Shell is abandoning plans for a multi billion dollar heavy oil refinery in St Clair Township.
Elusive peace in Nigeria’s oil Delta
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Shell, Valero Unfazed So Far By Mexico Oil Export Slump
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The Market Is Responding to the Oil Shock
As prices have risen, worries about energy security and long-term climate effects have reached a fever pitch.
BP Thwarts Ouster of Oil Ventures Chief
Beyond proving an adage in Russian investing do not turn your back on your Russian partner the vote highlighted the continuing struggle of BP to maintain control over a pumping asset that is exceptionally important for its global business.
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The great oil shock of 2008 is bad enough for us. It poses a mortal threat to the whole economic strategy of emerging Asia.
UK oil assets sold to Arab Emirate company
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Robert Dudley clings on by fingertips to TNK-BP job
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Dudley survives TNK-BP challenge
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Shell says it can squeeze 10 more years from Ursa
Royal Dutch Shell said it extended the life of its Gulf of Mexico oil field by 10 years after injecting water to push out displaced crude.