BP Sees Oil-Sands Costs Falling With Weak Loonie, Deflation

  • Costs have fallen 15% to 20%, Head of Exploration Herbert says
  • But BP’s oil-sands projects aren’t `going anywhere very fast'

The costs of developing and producing crude in Canada’s oil-sands is falling quickly, helped by a depreciating local currency and deflation, said BP Plc’s Head of Exploration Richard Herbert.

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