SOURCE: Industrial Info Resources

Industrial Info Resources

April 03, 2013 06:30 ET

Multibillion-Dollar Canadian Heavy Oil Upgrader Project Cancelled, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwired - Apr 3, 2013) - Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- A multibillion-dollar Canadian heavy oil upgrader project was cancelled last week, a victim of high costs, limited outbound pipeline capacity, and booming crude oil production from U.S. shale formations. That scuttled project, Voyageur, joins about a dozen other Canadian heavy oil upgrader projects that have been cancelled in recent years, according to Industrial Info's project database. The total investment value of those terminated projects is about $8 billion.

Other companies featured: Total S.A. (NYSE:TOT), Suncor Energy Incorporated (NYSE:SU), Investment Technology Group (NYSE:ITG)

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