Oilers cut oil sands investments

CANADA’s high-cost tar sands sector has taken a battering this week, with Statoil abandoning ship and industry champion Koch Industries reducing its exposure to Alberta in favour of cheaper US shale oil.

Oilers cut oil sands investments Oilers cut oil sands investments Oilers cut oil sands investments Oilers cut oil sands investments Oilers cut oil sands investments
 
Oil sands production works in a $US80-100 per barrel world, but is less of a sure bet at lower prices, and have been largely unstainable below $50/bbl.