Shell taps oilsands brakes
CEO blames high costs for slowed growth
By Shaun Polczer, Calgary Herald
January 26, 2010
D espite signs of a revival in Alberta's oilsands, one of the world's largest oil companies plans to limit growth in the sector in the coming years, its CEO said Monday.
Speaking to the Londonbased Financial Times in his first major interview since he became the company's chief executive in July, Royal Dutch Shell CEO Peter Voser said the company will slow its oilsands expansion plans and shift focus to conventional exploration in other parts of the world.