03:04 PM EST - Shell Canada Ltd. : said on Thursday it expects spending on capital projects next year to rise by nearly half from 2006 as it ramps up a major expansion of its oil sands projects. The company, whose parent Royal Dutch Shell Plc is offering $7.7 billion for the 22 percent of the company it does not already own, said it will invest $4 billion in its operations next year, up from a budgeted $2.7 billion this year. Shell Canada, the country's No. 3 oil producer and refiner, said $2.45 billion of the new spending will go toward boosting output in northern Alberta's oil sands. Shell Canada Ltd.
shares T.SHC are trading up 4 cents at $42.86.
