Canada’s largest oil company is sticking to its plan to invest $1.6 billion this year in its Fort Hills oilsands project.
Canada’s largest oil company is sticking to its plan to invest $1.6 billion this year in its Fort Hills oilsands project. Although the company is cutting 1,000 jobs and reported a fourth-quarter drop in earnings of 81 per cent, it says that soft market conditions will allow it to boost capacity. The new project will begin producing oil at the end of 2017.
