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New report forecasts $18.5b in oil sands construction

A new report says oilsands construction won’t slow down despite lower crude prices.

AltaCorp Capital says there’ll be more than eighteen billion dollars in construction over the next two years.

The Calgary Herald quotes them as saying lower prices could put a strain on smaller oil sands companies, but they would have to fall well below seventy dollars a barrel to affect the big players.

Crude prices fell to a low of just under seventy-six dollars per barrel this month, after being as high as a hundred and thirteen a barrel in April.

The forecast is lower than the Canadian Association of Petroleum Producers, which projected nineteen billion, and the Bank of Montreal which projected twenty-one billion.