On the same day Keystone XL was officially axed, Alberta's oil and gas industry made two massive bets designed to extend the life of the oilsands indefinitely.
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As part of the agreement, all existing assets at the Edmonton Terminal currently contracted with Suncor will be combined into a single Master Services Agreement.
The cancellation of the Keystone XL oil export pipeline has resulted in a second oilsands company posting a multimillion-dollar impairment charge in its fourth quarter earnings report.
Surging production from its Kearl oil sands mine after an unplanned two-week outage, along with a better-than-targeted drop in capital and operational spending, helped Imperial Oil Ltd.
