Suncor scales back 2013 oil sands spending plan

Suncor Energy Inc. will spend nearly $1-billion less to expand in the oil sands next year, with its 2013 budget cutting nearly in half spending in the Fort McMurray region compared to early expectations for 2012.

In a shift of course this year, Suncor pledged to focus on profit over growth in coming years, and launched what it called a “rigorous” review of the costs of new oil sands projects.

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