News Refining & Petrochemical Canada's Booming Oil Sands Sector Shows Signs of Weakening As Crude Prices Tumble
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Canada's booming oil sands industry showed more signs of cooling off Monday as crude prices continued their long plummet from record summer highs.

Petro-Canada and its partners Teck Cominco Ltd. and UTS Energy Corp. postponed a decision on further investment in a $19.5 billion oil sands project in northern Alberta and shelved plans to build an upgrade refinery — becoming the latest to postpone investment decisions on a mine and the latest to ditch an upgrader.

Source: Associated Press

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