Imperial Oil logo at the company’s annual meeting in Calgary, Friday, April 28, 2017. Two new oilsands projects with the combined capacity to produce up to 200,000 barrels per day have been approved by the Alberta Energy Regulator but proponent Imperial Oil Ltd. isn’t saying when or if it will build them. Company experts are scouring the “guts and feathers” of the decisions on its 50,000-bpd Cold Lake expansion and 150,000-bpd Aspen projects, both of which would use solvent and steam to recover bitumen from wells, said CEO Rich Kruger on a conference call to discuss third-quarter results on Friday. READ MORE: Head of Alberta Energy Regulator to step down in January Watch below: (From Nov. 1, 2018) Stunning, internal documents from Alberta’s Energy Regulator estimate the cost to clean up Alberta’s oil and gas industry may be $260 billion. $200 billion more than has been publicly reported. Carolyn Jarvis reports. The prospect of producing more heavy oil comes at a difficult time as discounts being paid for Western Canadian Select bitumen blend crude versus New York-traded West Texas Intermediate are hovering near US$40 per barrel, about three times typical differences. Light oil discounts have also widened recently as […]
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