Shaky economy hinders Long Lake oilsands project
By MARKUS ERMISCH, SUN MEDIA
10th December 2009
Nexen Inc. is delaying the expansion of its Long Lake oilsands project by one year to 2011, citing Canada's hesitant economic recovery and a lack of clarity about new environmental regulations as major reasons.
"Right across our industry, there is quite a measured approach to the pace of investment," Nexen CEO Marvin Romanow said in a conference call yesterday.