DAILY NEWS Apr 25, 2014 11:44 AM - 0 comments

Syncrude estimate revised after 'unplanned maintenance'

Canadian Oil Sands now pegs 2014 production at 95 million and 110 million barrels.

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By: Canadian Press
2014-04-25

Calgary - Canadian Oil Sands Ltd. is revising downward its production guidance for the Syncrude Canada oil sands mine north of Fort McMurray, AB, as a result of a breakdown at Coker 8-1.

The company said that the “unplanned maintenance” work on the coker – part of the process to convert tarry oil sands bitumen into a lighter type of crude that refineries can handle – will overlap the turnaround of Coker 8-2 scheduled for the second quarter.

As a result, COS has revised its estimate for Syncrude production in 2014 to a range of between 95 million and 105 million barrels – down from a previous estimate of 95 million to 110 million barrels.

The expected output equates to 35 million to 38.6 million barrels net to COS, the largest owner of the Syncrude mine with a 36.74% interest.

The other owners of Syncrude include Imperial Oil Ltd., Suncor Energy Inc., Chinese firms Sinopec and CNOOC, Mocal Energy and Murphy Oil.

© 2014 The Canadian Press



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