Suncor plans major oil sands spending

Suncor Energy Inc said on Wednesday its board approved a C$20.6 billion investment aimed at boosting crude oil production at the company’s oil sands operation north of Fort McMurray in Alberta.The investment will boost its production by 200,000 barrels per day, and help the company achieve its goal of raising crude oil production capacity to 550,000 bpd in 2012, it said.

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