Heavy Oil & Oil Sands Headlines

Oct-2-2006
Statoil Looking at $10 Billion in Oil Sands

Major international petroleum giant Statoil ASA of Norway is looking to secure a piece of the Alberta oil sands, in a strategy which could cost up to $10 billion, according to an article by Patrick Brethour in the Globe and Mail on September 28.

Statoil is among the top 10 publicly traded oil producers in the world.

Senior vice president of Statoil, Peder Sortland, is reported as saying the company is eager to pursue in-situ oil sands development rather than surface mining.

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