Statoil, Nexen Demand Regulatory Clarity for Canada Projects
By Eduard Gismatullin and Marianne Stigset
July 2 (Bloomberg) — StatoilHydro ASA, Norway’s largest oil producer, and Nexen Inc. called for “clarity” in Canadian regulation governing Alberta’s tar-sand projects before they proceed with investment in refineries.
Nexen, based in Calgary, has put on hold expansion of an upgrader at its C$6.1 billion ($6 billion) Long Lake refining project in Alberta, Chairman Francis Saville said today in Madrid, where he’s attending the World Petroleum Congress. StatoilHydro in May postponed the start of an upgrader, a crude-processing unit, at its Canadian oil-sands project by two years to 2016.