Chevron to Spend Billions Boosting Oil-Sands Output

Chevron Corp., the second-largest U.S. oil company, said it will spend “billions” to lead the development of an oil-sands project in northern Alberta.

Chevron, which owns 20 percent of an Alberta oil-sands development controlled by Royal Dutch Shell Plc, plans to build and operate a project capable of producing more than 100,000 barrels of oil a day within 10 years, James Bates, a vice president at the company’s Canadian unit, said today.
Bloomberg