The slump in crude oil prices is putting more development projects on ice. Shell today withdrew its application to build a 100,000 barrels daily oil sands mining project near Peace River in Northern Alberta. Last week Shell delayed expansion of its existing tar sands operation
Peace River
Oil slump hamstrings Shell, Irving projects
Peace River project shelved by Shell
Royal Dutch Shell has put on hold another multibillion-dollar Alberta oilsands project, the second in a month, as it struggles with low commodity prices and increasing Alberta construction costs.