Statoil delays Corner oil sands project

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Report summary

On 25 September 2014, Statoil announced it would delay the start-up of its Corner oil sands project - part of the larger Kai Kos Dehseh area - for at least three years. Reasons given for the delay include increasing labour and material costs, and market access issues. The Corner delay comes as no surprise when Statoil's corporate strategy and local market factors are viewed in tandem.

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