Imperial Oil is getting ready for first production from its massive new oil sands mine.
The Financial Post reports that first oil from the Kearl project is just weeks away, with start-up work still ongoing at the site north of Fort McMurray.
The company says first oil will depend on how that work progresses, but it’s expected early this year.
Kearl will be the nation’s fifth oil sands mine, designed to produce 110 thousand barrels of bitumen per day.
It cost almost 11 billion dollars to build, and construction’s been underway for more than three years.
The Post also says it’s expected the new supply from the mine will drive bitumen prices down.
January 3, 2013
