Outlook dims for Alberta's tar sands
Spiraling costs and a mounting stack of uncertainties are casting a deep shadow on tar-sand development in Alberta. Federal and provincial officials in Canada last week were studying the possibility of assuming part ownership in Syncrude Canada Ltd. after a major partner dropped out of the venture. In another move, Home Oil Ltd. postponed indefinitely its plans for a tar-sand extraction plant estimated to cost $1 billion. Talks were under way between the Alberta cabinet and Syncrude, which is building a 125,000-bpd production plant and related facilities in the Athabasca tar-sand area, 250 miles northeast of Edmonton. Atlantic Richfield Canada Ltd. notified government officials and its 3 partners in Syncrude it is withdrawing from participation in the extraction plant. The company blamed rapid inflationary increases in capital and operating costs and continued uncertainty on future prices to be received for synthetic crude.
- OSTI ID:
- 6884004
- Journal Information:
- Oil Gas J.; (United States), Journal Name: Oil Gas J.; (United States) Vol. 72:50; ISSN OIGJA
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
040100* -- Oil Shales & Tar Sands-- Reserves & Exploration-- (-1989)
ALBERTA
ATHABASCA DEPOSIT
BITUMINOUS MATERIALS
CANADA
CARBONACEOUS MATERIALS
CONSTRUCTION
COST
ENERGY SOURCES
FOSSIL FUELS
FUELS
GEOLOGIC DEPOSITS
INDUSTRIAL PLANTS
MATERIALS
NORTH AMERICA
OIL SAND DEPOSITS
OIL SAND PROCESSING PLANTS
OIL SANDS
PROFITS
RESOURCE DEVELOPMENT