Alberta—Oil sands producers in Alberta will need to keep rising capital costs under control to remain competitive and find new markets for their crude, the province’s deputy energy minister, Grant Sprauge, said Monday. Cost competitiveness is very important not just in North America, but also in a global perspective, he said at the CERI 2014 Petrochemical Conference. “Supercharging and overheating of Alberta’s economy due to the rapid pace of oil sands development has been talked about for a few years now,” he said. “Some say we should control the pace of project approvals and development, but there is no simple answer to handle rising capital costs.”
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