This year Canada will increase oil industry profits, or 66% – China CNC Machinin
According to overseas media reports in Calgary March 20, Conference Board of Canada (CBC) 3 18 in here that, due to rising crude oil prices and increasing oil production exceeded the increase in operating costs of the impact of Petro-Canada Industry profits for the year are likely to increase 66%.
Conference Board of Canada said in a report, the Canadian oil industry in this year's pre-tax profits are likely to reach 80 billion yuan (7.9 billion U.S. dollars), compared with 2009 increased by 66%, but still lower than in 2008 received a record tax before profit.
Oil prices rise again a few days ago for more than 80 U.S. dollars a barrel, the price is when the world's most economically depressed prices more than doubled. However, this price is still lower than in July 2008 had a record 147 U.S. dollars per barrel historical record.
Conference Board of Canada is expected to crude oil prices in 2014 will reach 114 U.S. dollars a barrel.
In the past few months, the sharp rise in oil prices prompted many oil companies to re-start the end of 2008 and early 2009 have been placed on hold oil sands development projects.
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