Regulators Approve Imperial Oil’s Kearl Oil Sands Mining Project

Imperial Oil announced today that the Alberta
Energy and Utilities Board (AEUB) and the Government of Canada have given
conditional approval to Imperial’s proposed Kearl Oil Sands Project, following
a joint federal and provincial review.

The current plan is to develop the mine
in a staged manner, with an initial mine train with production capacity of
about 100,000 barrels a day. Subsequent expansions could increase capacity to
approximately 300,000 barrels a day.

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