The Financial Post reports in its Thursday edition that the price of oil has been on a steady climb all year, but the talk at Canada's biggest oil and gas conference is still focused on spending discipline. A Canadian Press dispatch to the Post says that industry leaders at the Canadian Association of Petroleum Producers conference in Toronto have been emphasizing their predictability and focus on returning money to shareholders, rather than talk of growth. Suncor boss Rich Kruger said his goal is to bring clarity and simplicity to the company. Mr. Kruger has been working to create a steadier production plan, in contrast to some of the more rushed decisions when growth was the answer to all of the industry's questions. The early development of the Fort Hills oil-sands site, for example, saw mine plans that had slope angles too steep, and not enough was done to check for water issues, in what were fairly short-sighted decisions made to feed the processing plant faster, he said. Even with oil up about $15 (U.S.) per barrel so far this year to $85 (U.S.), industry leaders at the conference have been emphasizing that they no longer see production growth as so deeply tied to value, even as for oil continues to rise.
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