Shell said it authorized the major project after finding 20 percent in cost reductions and determining that it will produce a profit as long as the global benchmark for oil prices stays above $55 a barrel.
With limited pipeline options to ship oil sands crude out of Canada, Exxon Mobil Corp. plans to move up to 100,000 barrels per day of Canadian oil using a new rail terminal that should be running by 2015, an executive said Thursday.
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