Canadian output to increase in 2002 – Looking Ahead – Brief Article – Statistical Data Included
Despite expected lower prices and company expenditures than in recent years, a big boost is expected this year in Canada’s output, induced by start-up of oil sands and offshore projects, said Purvin & Gertz consultant Susan Bell. Led by Suncor Energy Inc.’s Project Millennium oil sands expansion in Alberta and the Terra Nova development off the Newfoundland coast, Canada’s oil production may rise as much as 5% to 7%. This increase would overshadow 2001’s strong growth of 3.8%, estimates the National Energy Board.
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