Hearn downgrading Kearl’s upgrader

Imperial backs away from including Fort McMurray refinery in oil sands mega-project; CEO troubled by ‘gold rush mentality’

Gary Park

Petroleum News Canadian Contributing Writer

For some it was the sound of the first domino falling. For others it was merely a nervous shuffling of the tiles. But when Imperial Oil, Canada’s largest integrated oil company, makes any kind of move it draws attention, whatever the deeper significance. And Chief Executive Officer Tim Hearn gave ob....

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Imperial takes upgrader off table

Existing refineries will be used

Hearn: too many upgrades proposed

High oil price assumptions also an issue

Petro-Canada hikes oil sands spending