Firm warns low prices could delay oil sands projects
Jun 5, 2012 at 3:14 pm in Business, News by tyler.king
The international energy research firm Wood Mackenzie is warning that low oil prices could mean big problems for the oil sands.
A new report from the group says prices hovering just over eighty dollars a barrel mean oil sands producers can expect their prices to be pushed down to less than seventy dollars because of a glut of supply.
Prices that low could mean delays for projects like CNRL’s Horizon expansion, Cenovus’ Narrows Lake project, and the Fort Hills and Joslyn mines owned by Suncor and Total.
Published June 5, 2012