Two big Canadian cos plan to delay new projects
Suncor and UTS said that they are delaying new projects and cutting capital spending due to global credit crunch and falling oil prices play havoc alongwith Alberta’s high-cost oilsands.
Rick George, Suncor’s president and CEO said:
Our aim is to ensure we are living within our means during a time of market uncertainty, while also making the strategic spending decisions that will allow us to continue on our growth path.
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For Suncor’s website, click here
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Thu, Oct 23, 2008
Post by Melissa Pistilli, Heavy Oil Senior Reporter