February 28, 2017 / 10:22 PM / 8 months ago

Oil production, expenditure down in Canada's Alberta -regulator

CALGARY, Alberta, Feb 28 (Reuters) - Production, capital expenditure and remaining established reserves of crude oil in Canada’s oil-rich province of Alberta fell in 2016, a “challenging” year with low crude prices and a wildfire that hurt the industry, the provincial regulator said on Tuesday.

Oil sands production fell by 16 percent to 166 million barrels, capital expenditure was down 33 percent to C$16 billion and remaining established reserves were at 1.6 billion barrels, down from 2015’s 1.8 billion barrels, according to Alberta’s Energy Regulator. (Reporting by Ethan Lou in Calgary, Alberta)

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