Document summary
Following CTI’s
Oil and Gas Majors Fact Sheets, released in August 2014, this study is now focusing exclusively on the Canadian oil sands industry, whose investors are at a heightened risk of companies wasting $271 billion of capital on projects in the next decade that need high oil prices of more than $95 a barrel to be give a decent return. The report reveals that nine out of ten barrels in undeveloped Canadian oil sands projects at risk from eroding oil price.
Carbon Tracker’s research aims to bring capital expenditure plans under public scrutiny. The last six months has seen ongoing engagement between investors and oil companies regarding capital expenditure plans and break even prices. This debate has improved the transparency of the economics of the future oil projects boards are considering. Share- holders are looking for confirmation that companies are not planning on wasting capital on projects.