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Posted AT 4:33 PM EST on 08/07/08

Shell quits Sarnia refinery plan

Reuters

CALGARY — Royal Dutch Shell PLC has cancelled plans to build a new multibillion-dollar refinery near Sarnia, Ont., due to poor market conditions and surging construction costs, the oil major said Tuesday. Shell had been studying the feasibility of a new plant in St. Clair Township in southwestern Ontario over the past two years to process crude from its expanding Alberta oil sands operations.

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