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CAPP Releases Newfoundland Election ‘Platform’

The Canadian Association of Petroleum Producers (CAPP) is calling on all political parties to engage with the oil and natural gas industry to commit to policy solutions and actions “that are critical to fostering industry growth and making Newfoundland and Labrador the world’s most attractive place for offshore oil and natural gas investment.”

‘Remarkable’ Oilsands Cost Reductions Not Fixing Investor Confidence: IHS

The numbers are significant. A new study by IHS Markit says the breakeven WTI price for a SAGD expansion is now US$45/bbl, compared to US$65/bbl in 2014. For a mining project without an upgrader it’s US$65/bbl, down from $100/bbl in 2014. Both capital and operating costs have dropped dramatically, but investors are too uncertain about pipeline projects to proceed with significant new growth.

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