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Oil Giant Sets Sights on Getting Tar Sands Crude to Gulf Coast

2013-03-29 06:13:00| Climate Ark Climate Change & Global Warming Newsfeed

Globe and Mail: France's Total SA says current market conditions favour processing oil sands crude on the U.S. Gulf Coast rather than building an $11.6-billion upgrader in Alberta, as the company took a $1.65-billion (U.S.) loss on its 49-per-cent stake in the cancelled Voyageur project. Total announced the writedown a day after its partner, Suncor Energy Inc., announced the cancellation of the Voyageur project. Suncor - Canada's largest oil-sands producers - said market conditions have changed dramatically in...

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