Japex to begin bitumen output in Canada’s Hangingstone

摘要

Japan Petroleum Exploration, or Japex, said Tuesday that it expects to start producing bitumen from the undeveloped area of the Hangingstone leases in Canada’s Alberta province in mid-2017, after suspending output from its adjacent 3.75 section area in May due to low prices. The start of production has been delayed from Japex’s previous target—first-half of 2017— but a company official said with current crude oil prices in the $40s/b, it will be economical to begin production.