Imperial Oil Approves Massive Oil Sands Expansion

CALGARY, Alberta – Imperial Oil Ltd. said Wednesday it will go ahead with an $8.9 billion Canadian (US$8.6 billion) expansion to its Kearl oil sands mine in Alberta. The Calgary-based oil producer and refiner said the second phase of the project is slated to begin producing 110,000 barrels of oil per day by late 2015.