Suncor Energy is blaming delays caused by last spring's devastating Fort McMurray wildfire, along with construction changes to boost capacity, for a $1.4-billion to $1.9-billion increase in the estimated cost of its Fort Hills oilsands mining project. Suncor says its share of Fort Hills' remaining project capital is between $1.6 billion and $1.8 billion and most of that will be spent this year, with production expected to gradually ramp up through 2018. The project is owned 50.8 per cent by Suncor, 29.2 per cent by Total SA and 20 per cent by Teck Resources Ltd. Suncor says the Fort McMurray wildfire is partly to blame for the higher cost of its Fort Hills oilsands mining project. Unlikely U.S. will impose border tax, CEO saysWilliams says he thinks it's unlikely that the United States will bring in a border adjustment tax as has been suggested by some Republican lawmakers.

Source: CBC News February 09, 2017 17:26 UTC