News

What If Bill Gates Hadn’t Sold His Microsoft Shares?

Reuters

Canada’s oil sands tiptoe to record output, but keep a lid on spending

Canada’s oil sands are inching toward record production, as the country’s biggest producers squeeze more barrels out of existing assets, but they are holding back on big spending despite some of the highest oil prices in seven years. The oil sands, which make up the bulk of Canada’s production, are on track to reach 3.5 million barrels per day (bpd) by year-end, surpassing January’s record of 3.25 million bpd, said Matt Murphy, analyst at investment bank Tudor, Pickering, Holt. Canada’s majors all signaled recently, however, that they have no plans to take on big new projects or significant expansions to existing facilities.

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

More in:News

Leave a reply

Your email address will not be published.

Next Article:

0 %