THE HAGUE, The Netherlands, October 27, 2015 /PRNewswire via COMTEX/ -- THE HAGUE, The Netherlands, October 27, 2015 /PRNewswire/ --
Royal Dutch Shell plc ("Shell") today announces that the company will not continue construction of the 80,000 barrel per day Carmon Creek thermal in situ project located in Alberta, Canada.
Shell originally sanctioned the project in October 2013 and announced in March 2015 that the project would be re-phased to take advantage of the market downturn to optimise design and retender certain contracts. After careful review of the potential design options, updated costs, and the company's capital priorities, Shell's view is that the project does not rank in its portfolio at this time. This decision reflects current uncertainties, including the lack of infrastructure to move Canadian crude oil to global commodity markets.
Royal Dutch Shell: Shell to Halt Carmon Creek in Situ ProjectRoyal Dutch Shell plc ("Shell") today announces that the company will not continue construction of the 80,000 barrel per day Carmon Creek thermal in situ project located in Alberta, Canada.
Shell originally sanctioned the project in October 2013 and announced in March 2015 that the project would be re-phased to take advantage of the market downturn to optimise design and retender certain contracts. After careful review of the potential design options, updated costs, and the company's capital priorities, Shell's view is that the project does not rank in its portfolio at this time. This decision reflects current uncertainties, including the lack of infrastructure to move Canadian crude oil to global commodity markets.
hey, and related:
Red Rose Country
By Kate on October 28, 2015 1:15 AM | 5 Comments
Getting the government they voted for;
Alberta will try to spend its way out of an economic downturn with a provincial budget that projects a $6.1-billion deficit, hikes sin taxes and calls for billions in new debt.
Good and hard.
Ezra Levant Verified account @ezralevant
Shell was creating 1,450 jobs. Notley's budget killed them. But she announced a "Job Creation Incentive Program". That'll bring them back!
RD Simper @RDSimper
I can clearly see why the Alberta budget wasn't tabled before a federal election. Same reason @globeandmail buried Wynne bribing unions.