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Canada’s Investment in Oil Sands Falls by More than 30%
Jun. 10, 2015 03:22AM PST
Oil and Gas InvestingMining.com reported that Capital investment in Canada’s oil sands has dropped by 30% since last year to hit $23 billion this year, due to about lower oil prices and stalled multibillion-dollar pipeline proposals.
Mining.com reported that Capital investment in Canada’s oil sands has dropped by 30% since last year to hit $23 billion this year, due to about lower oil prices and stalled multibillion-dollar pipeline proposals.
As quoted in the market news,
Despite the challenges, the industry body says it expects growth in the oil sands sector. According to the report, they remain the primary driver of oil growth in Canada, with production reaching four million barrels per day by 2030, said CAAP.