The exodus of international players from Canada’s costly oil sands is raising fresh doubt over future development prospects for the world’s third-largest crude reserves as the region struggles to compete with cheap U.S. shale plays.Royal Dutch Shell Plc (NYSE: RDS.A) and Marathon Oil Corp. (NYSE: MRO) sold off billions of dollars in oil sands assets on March 9, the latest sign that global oil majors are abandoning the region.The withdrawals from the oil sands, a sector viewed less than five years ago as one of the world’s hottest plays, have cast a pall on Alberta’s economic outlook. They are also stoking criticism of federal and provincial environmental policies that are stricter than those of the U.S. 
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Source: Daily Dose of ShaleDirectories.com News