Imperial goes ahead with $2 billion Cold Lake Expansion in Canada

Imperial Oil has approved the US$2 billion expansion of company’s Cold Lake oil sands project in Alberta which will add 40 kbbld of bitumen production. Imperial which is 69.6% owned by Exxon, will recover additional 280 mmbbls through this project which is expected to start by year end 2014. Current production stands at 160 kbbld.


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