- Canada's government approves a major expansion of the Jack Pine oil sands mine operated by Royal Dutch Shell (RDS.A, RDS.B), despite an environmental review that warned of severe and irreversible damage.
- The decision clears the way for Shell to raise production at the Alberta mine by 100K bbl/day, bringing total output at the joint venture with Marathon Petroleum (MPC) and Chevron (CVX) to 300K bbl/day; the mine is part of the larger Athabasca oil sands project, which has current production capacity of 255K bbl/day.
- Shell says it hasn't made a final investment decision on moving ahead with the expansion but is reviewing the government's terms.
Shell cleared to expand Jack Pine oil sands project in Canada
Dec 6 2013, 22:50 ET