Uncertain climate change policy delays Statoil’s project
Statoil is delaying investment in the company’s Oil Sands project due to uncertainty over Canda’s climate change policies. The company has put off upgradation of a portion of the integrated oil sands project by two years later than originally planned.
Helge Lund, CEO of Statoil was quoted as saying:
Making an upgrader investment decision is a huge undertaking and the fact that there is uncertainty related to the future regulatory regime, including the cost of CO2, we need more clarity on that before we can make a final decision.
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Mon, Jul 7, 2008
Post by Melissa Pistilli, Heavy Oil Senior Reporter