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Royal Dutch Shell Delays Oil Sands Expansion, Globe Reports

April 29 (Bloomberg) — Royal Dutch Shell Plc has put plans to expand operations in Alberta’s oil sands on hold for at least five years, the Globe and Mail reported, citing Marvin Odum, the company’s Americas head.

Costs to build in the oil sands have increased, prompting the company to delay any decisions to expand its Athabasca Oil Sands project until at least the second half of the decade, the newspaper said.

Royal Dutch will instead focus on increasing production at existing facilities, planning to produce a further 30,000 to 80,000 barrels a day, Odum told the Globe.

To contact the reporter on this story: Sean B. Pasternak in Toronto at [email protected].

Last Updated: April 29, 2010 07:10 EDT

Bloomberg.com Article

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