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Syncrude Canada Ltd. is one of the world's largest producers of synthetic crude oil from oil sands and the largest single source producer in Canada. It is located just outside Fort McMurray in the Athabasca Oil Sands , and has a nameplate capacity of 350,000 barrels per day (56,000 m 3 /d) of oil, equivalent to about 13% of Canada's consumption ...
In fall 2021, Suncor assumed operatorship of the Syncrude Joint Venture oil sands project in a bid to improve its performance. Suncor holds a majority stake in Syncrude with 58.74 per cent. [20] In July 2022, president and CEO Mark Little resigned amid investor pressure and after a series of workplace deaths and safety incidents. [21]
Suncor (SU) expects first-quarter 2018 production to be 685,000 barrels of oil equivalent per day (BOE/d), reflecting a decline on both year over year and sequential basis. Suncor Cuts Syncrude ...
Syncrude Canada, Suncor Energy Inc., and Canadian Natural Resources Limited are the three largest worldwide producers of synthetic crude with a cumulative production of approximately 600,000 barrels per day (95,000 m 3 /d).
Suncor's (SU) operatorship marks the evolution of the oil sand mining industry from a risky, high-valued venture to a more powerful and predictable operation.
As of 2009, Syncrude and Irving Oil were leaders in the Canadian industry, with Syncrude being the top producer of oil sands crude and Irving Oil operating the largest oil refinery in the country. [5] Canadian oil company profits quickly recovered following the 2008 financial crisis; In 2009 they were down 90% but in 2010 they reached $8.4 billion.
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This changed in the 1980s, however, with the announcement that construction would begin on two heavy oil upgraders. Like the plants at Syncrude, Suncor and Shell's Scotford facility near Edmonton, these refinery-like operations turn heavy oil and bitumen into lighter and lower-sulfur, more desirable crude.