London-Norwegian major StatoilHydro said August 4 industry costs at its capital intensive Canadian oil sands operations are "coming down" but it would still need an oil price of $70-80/barrel for a full development option to break even. "The cost environment in Canada comes from a very heated situation and we now see that the cost is coming down and we think that is extremely important in order to be able to move on with new developments," Statoil-Hydro CFO Eldar Saetre told analysts in a quarterly conference call.
展开▼
