IMPERIAL PLANS HEAVY OIL EXPANSION

Imperial Oil Resources Ltd., Toronto, has unveiled plans for an expansion of its Cold Lake heavy oil project in Northeast Alberta. The company will spend $240 million (Canadian) during the next 2 years to expand production to 127,000 b/d by 1997 from the current 90,000100,000 b/d . Imperial this year placed a hold on expansion Phases 9 and 10 of its Cold Lake operation due to low heading oil prices compared with conventional crude prices.

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