Comes 18 years after Foster Creek facility was launched as the first commercial oil sands project to use steam-assisted gravity drainage.
…but they fear the pipeline expansion to BC’s coast will not be competed.
Trident is abandoning 4,392 licensed wells, pipelines and other facilities.
But province’s difficulty in moving oil to market will remain a major challenge.
Industry organization says it’s more concerned with policy implementation and outcomes than specific initiatives.
Energy giant has been reviewing relationships with industry associations looking for misalignment.
Increase to 5.6 million bpd in the next 17 years mainly due to a rise in oil sands production to 4.2 million bpd.
China, Japan, Russia are looking at their tax policies to ensure they’re competitive.
Cuts would be easier in some parts of the oil patch than others; industry wants to take the most cost-effective approach.
CAPP warns that new regulations shouldn’t load industry with too many new costs.
Seeing increased capital moving to the US, now a competitor for energy markets.
BC declared the top supplier with 1,586 businesses serving CAPP producers.
CAPP CEO says the election of Donald Trump adds pressure to Canada to clear regulatory hurdles blocking new projects.
Could divert investment away from Canada to the US and exacerbate a glut in American production.
CAPP forecast cites growing supply, need for new energy infrastructure urgent.