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Oil sands producers find ways raise output, reduce capex – Oil & Gas 360
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Oil sands producers find ways raise output, reduce capex – Oil & Gas 360
(World Oil)– Canadian oil sands companies have found a way to ramp up production in the face of oil prices: curtailing lengthy repairs to equipment. Canadian Natural Resources Ltd., Imperial Oil Ltd. and others are extending maintenance cycles to two-years from one, which saves on capital expenditure, increases output and effectively offsets declining profits from crude prices that have fallen 11% in the past year. Suncor Energy Inc., meanw
·Denver, United States
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