BP may search for tar sands substitute

(Reuters) – British Petroleum may be looking for a tar sands substitute to boost production as it grapples with depressed oil prices, according to a person familiar with the matter.

BP is aware of potential substitutes among Canadian bitumen, which many big oil companies are using instead of petroleum-based crudes, the person told Reuters.

Canadian bitumen is cheaper than traditional crudes and contains about 5 percent, on average, of the sand that accompanies Alberta’s oil sands.

Several companies, including ExxonMobil and Total, have said they intend to use Canadian bitumen 0259d3422e

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