Shell Canada: Oil Sands Project Faces Higher Costs

(MarketWatch) — Shell Canada’s (SHC.T) C$7.3 billion ($6.57 billion) plan to expand its 155,000 barrel-a-day Athabasca Oil Sands Project, or AOSP, could cost 50% more than previously expected, according to one of the companies involved in the project.

In a press release, Western Oil Sands (WTO.T), which owns a 20% stake in the AOSP, said that “preliminary estimates indicate a potential increase in capital costs… of approximately 50% higher than those anticipated last year.”
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