Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
The Canadian Association of Petroleum Producers increased its forecast for output in 2030 based on increasing oil sands and conventional oil production.
In its latest report, CAPP says crude oil extraction will more than double to 6.7 million barrels per day by 2030 from the 3.2 million in 2012.
Canadian Association of Petroleum Producers data
The 2030 estimate includes 5.2 million barrels per day coming from the oil sands, especially more from drilling production, up from 1.8 million barrels per day last year.
Conventional production was 1.2 million barrels per day last year and it is expected to rise to 1.4 million barrels per day by 2015 then remain at that level.
Atlantic Canada’s offshore oil supply forecast remains unchanged at about 200,000 barrels per day.
CAPP says oil sands production growth reflects Canada’s supply potential and the growing international demand for oil.
Canada’s supply is aimed at markets in the eastern part of the country as well as the US and Asia.
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