Canadian independent producer Nexen has postponed a decision on expanding its Long Lake oil sands project until 2011 and has also outlined plans to sell non-ore assets that could raise over C$1 billion (US$950 million) over the next 12 to 24 months. In an operations update released late on Tuesday, the firm said development work is progressing well at the Long Lake oil sands venture in Alberta, after a series of earlier setbacks.
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