Petro-Canada defers decision on Fort Hills mine (Reuters via Yahoo! News) Petro-Canada said on Monday it will delay a final go-ahead for the mining portion of its planned C$21 billion ($17 billion) Fort Hills project, looking to the weak economy and falling oil to lower overheated costs that have plagued rival oil sand ventures.

Petro-Canada Postpones C$25.3 Billion Fort Hills Oil-Sands Mine (Bloomberg) Nov. 17 (Bloomberg) -- Petro-Canada , the country's third- largest oil company, said it delayed to next year a decision whether to mine oil sands at the proposed C$25.3 billion ($20.6 billion) Fort Hills project in northeastern Alberta because of rising costs and falling oil prices.