PTT delays plan to develop Canadian oil sands project

Thailand’s PTT, which is considering construction of an ethane “cracker” facility in eastern Ohio, has delayed plans to develop its Mariana oil sands project in Canada due to weak oil prices, Reuters reports. The news service says PTT’s decision “marks the latest blow to the oil sands industry in Canada, where dozens of projects have been shelved due to high start-up costs and low oil prices.” Reuters also says the delay fits with PTT’s strategy of focusing on liquefied natural gas capacity and natural gas assets. For more, read the full story.

Global, Ohio