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Financial Times: Shell seeks go-ahead for refinery processing revamp

Published: August 1 2007 03:00 | Last updated: August 1 2007 03:00

Royal Dutch Shell this week filed for regulatory clearance to upgrade its oil sands processing facility at its Edmonton refinery, a project which could cost as much C$27bn ($25.4bn) and take two decades to complete.

The project, known as the Scotford Upgrader 2, could ultimately process up to 400,000 barrels a day of oil sands bitumen from the Athabasca Oil Sands Project in northern Alberta and other oil sands projects in the area.

The Alberta oil sands are “the new frontier” for the world’s oil companies ,according to Fadel Gheit, an analyst with Oppenheimer & Co. He adds Shell and other companies investing in the oil sands will incur heavy costs because of strict environmental regulations.

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