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Unplanned Repairs Restrict Suncor’s 2012 Oil Sands Output
Dec. 06, 2012 10:14AM PST
Oil and Gas Investing
Unplanned maintenance at Suncor Energy Inc’s oil sands operation has slowed production to the low end of its forecast range for the year despite the beginning of a new production unit, Canada’s biggest energy company said on Thursday
Unplanned maintenance at Suncor Energy Inc’s oil sands operation has slowed production to the low end of its forecast range for the year despite the beginning of a new production unit, Canada’s biggest energy company said on Thursday.
Highlights from market news:
– Unplanned repairs resulted in Suncor’s average oil sands output in 2012 is expected to be closer to 325,000 barrels per day rather than 340,000
– Repairs at the oil sands plant are complete and operation pumped 380,000 barrels per day at Novembers end
– Suncor shares were down 10 Canadian cents at C$32.58 on Toronto Stock Exchange
Click here to read full Reuters article.