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Major oil project investment signals renewed industry confidence Add to ...

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Thailand’s state-run oil company is reviving blueprints for a major oil sands project in the latest sign the industry is shedding caution after more than two years of contraction.

Global oil prices have fallen sharply in recent weeks as doubts grow over a proposed deal led by the Organization of Petroleum Exporting Countries to tackle a global glut. But some companies are resuscitating growth projects that in many cases won’t produce any crude for years.

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