| (CBC News) - Two players in Canada's oilsands Suncor Energy Inc. and Nexen Inc. both sounded warnings Thursday over rising costs of developing their projects. Nexen Inc. said the projected cost for its Long Lake project in northern Alberta has risen to $5 billion from $4.6 billion, with Nexen's share about $2.5 billion. The company also said a $300 million contingency reserve of which $150 million is to be covered by Nexen has been set up to cover cost pressures. Nexen shares the Long Lake project with OPTI Canada Inc. Link |
