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Kearl expansion 30% done

Exxon-Mobil’s CEO says they’re still on track to expand the new Kearl oil sands mine.

Rex Tillerson told shareholders today that the expansion is already 30 percent done, and should be finished by 2015.

The Imperial Oil project only started up last month after a few delays in construction.

It’s set to produce 110-thousand barrels per day once it’s fully operational later this year, but later expansions will boost that to more than 300-thousand.

Exxon owns 30 percent of the project with Imperial holding the other 70.

May 29, 2013