SOURCE: Industrial Info Resources

June 08, 2009 06:30 ET

Kearl Oil Sands Project Approved to Begin Major Construction, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - June 8, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Imperial Oil Limited (TSX:IMO) (Calgary, Alberta) recently announced that its board of directors has approved major construction for Phase I of the grassroot Kearl oil sands project. Located 70 kilometers northeast of Fort McMurray, Alberta, the $8 billion (U.S. $7.3 billion) project is a joint-venture integrated oil sands surface mining, processing and synthetic crude production operation between Imperial Oil and ExxonMobil Canada (Calgary), a subsidiary of ExxonMobil Corporation (NYSE:XOM) (Irving, Texas).

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