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Oil Sands Giants Restrain Spending as Pipeline Pinch Persists

From bnnbloomberg.ca

Capital spending in Canada’s oil-sands reserves look set to continue to dwindle as pipeline bottlenecks persist and the Alberta government’s production limits remain in place. Husky Energy Inc. said early Monday that it’s cutting capital spending for 2020 and 2021 by a total of C$500 million ($375 million), and Suncor Energy Inc. said later in the day that it’s keeping spending on oil-related projects flat. While other major producers have yet to release spending plans for next year, the projections from Husky and Suncor show energy companies may continue to focus on wringing more profit from their existing output, ... (full story)

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  • Category: Fundamental Analysis