CALGARY - Oilsands giant Suncor Energy Inc. says it will keep capital spending related to its oil operations flat next year while moving forward with a new $300-million wind power project in southern Alberta. The Calgary-based company says its capital budget for 2020 will rise by about 10 per cent to a mid-point of $5.7 billion from this year’s $5.15 billion. Suncor announced it has sanctioned the first 200-megawatt phase of its Forty Mile Wind Power Project, which received Alberta regulatory approval last spring. About 25 per cent of the capital cost is expected to be incurred this year and the remainder in 2020 and 2021. Upstream production is expected to increase by about five per cent to about 820,000 barrels of oil equivalent per day.

Source: thestar December 03, 2019 16:18 UTC