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Imperial slows pace of Aspen oil sands development

March 15, 2019  

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Canada’s Imperial Oil Ltd said on Friday it had slowed the pace of development of its $2.6 billion Aspen oil sands project in Alberta due to market uncertainty from the provincial government’s output cuts.

“This was a difficult choice in light of our final investment decision on Aspen announced last November,” CEO Rich Kruger said in a brief statement to Reuters.