The Canadian government has granted approval for Royal Dutch Shell Plc to expand its Jackpine oil sands project in northern Alberta, a move that could boost production at the site by up to 100,000 barrels a day. Canada's environment minister said in a statement late on Friday that after a review by a federal-provincial panel, the government concluded that the project was likely to cause significant adverse environmental effects. But it said those effects were justified and the project may proceed.A Royal Dutch Shell spokesman said on Saturday the company was reviewing the recommendations and conditions attached to the approval."Proceeding with the project is subject to a final investment decision by Shell and the AOSP (Athabasca Oil Sands Project) joint venture owners," spokesman David Williams said in an email.Shell's partners in the venture include Marathon Oil Corp and Chevron Corp.
Marathon Oil Corporation (Marathon Oil) is an international energy company engaged in exploration and production, oil sands mining and integrated gas with operations in the United States, Angola, Canada, Equatorial Guinea. Shares of MRO traded higher by 0.69% or $0.25/share to $36.56. In the past year, the shares have traded as low as $29.47 and as high as $38.18. On average, 5384580 shares of MRO exchange hands on a given day and today's volume is recorded at 6198460.
Shares of RDS-B traded higher by 2.71% or $1.86/share to $70.51. In the past year, the shares have traded as low as $65.02 and as high as $74.95. On average, 893258 shares of RDS-B exchange hands on a given day and today's volume is recorded at 2121650.
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