Oil prices need to recover before Oilsands project reopens.

Low oil prices keep oilsands project shuttered long after wildfire put out


The Hangingstone thermal oilsands project, operated by Japan Canada Oil Sands Ltd. since 1999, was shuttered in May as a precaution when staff were evacuated due to the wildfires.

Satoshi Abe, the company’s executive vice-president, said the facility won’t be restarted for economic reasons.

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