Petro-Canada opts for caution
Won’t plunge into Fort Hills until it has a solid fix on budget; once you issue a price tag ‘you can’t wear an overrun’ says Carmata; cost estimate possible in early ’07, approval maybe in ’08
For Petroleum News
One of the key strategic thinkers behind Petro-Canada’s plans to unlock the value of its 10 billion oil sands resource knows enough about the pain of dealing with project overruns to want no part of miscalculating the estimated cost of the integrated Fort Hills project.
Neil Carmata, who led the con....
[additional news subjects in this story]
Estimates have run as high as C$19B
Corporate approval could come in ‘08
Refinery plans also affected by cost crunch
Petro-Canada may unload oil sands assets
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