Suncor Energy said yesterday that it has set its 2013 capital spending budget at $7.3-billion.
It had originally planned to spend $7.5-billion.
This is nearly $1-billion less to expand in the oil sands or nearly half of its spending in Fort McMurray compared to last year.
It has also reported that it is looking to increase oil production from 570-thousand to 620-thousand barrels per day, which is marks 8-percent growth overall.
It plans to make a decision on whether to go ahead with its Voyageur upgrader early next year.
December 4th, 2012
