MCW Energy Group Limited, announced further details of its projected oil sands processing costs in the advent of world oil prices under $50.00 USD per barrel.
During the latter part of 2014, MCW had assessed its average cost of processing oil sands feedstock at approximately $ 35.00 USD per barrel. This cost was determined when oil prices were in the $ 95.00 - $ 105.00 USD range per barrel.
MCW's processing costs have now been projected downwards to $ 28.00 USD per barrel, mainly due to lower costs of the petroleum products being used in the extraction process, such as solvent blends, diesel fuel, liquefied propane, heating oil and natural gas condensates. All of these energy/processing component prices have fallen in tandem with the current dramatic fall in world oil prices. Condensate prices are down 50%. Solvent blend, diesel fuel and propane prices are down an average of 40%.