Canadian Oil Sands cuts production outlook after lower profits
Jul 30, 2012 at 5:49 am in Business, News by tyler.king
Second quarter profits for Canadian Oil sands dropped seventy percent this year.
The largest stakeholder in Syncrude made 101 million dollars, short of the more than 150 million analysts expected.
The company owns 37 percent of Syncrude.
It also cut the production outlook at the project for the third time this year.
The high end was 117 thousand barrels per day in February; it dropped to 114 thousand in April; now it’s 112 thousand.
Published July 30, 2012