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More Than Three-Quarters of Canada's Oil Sands Being Produced At a Loss

2015-08-21 15:46:00| Climate Ark Climate Change & Global Warming Newsfeed

Reuters: Aug 20 More than three-quarters of Canada's daily output of 2.2 million barrels of crude from oil sands is being produced at a loss at current prices, research from analysts at TD Securities shows, although producers are unlikely to halt operations. Only two mining and upgrading projects - Canadian Natural Resources Ltd's Horizon project and Suncor Energy's Millennium mine - are producing synthetic crude for less than its current outright price around $36 a barrel, analyst Menno Hulshof said on...

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