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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]
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. [1]
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.
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.
Despite operational problems, the oil-sands-focused petro giant is generating loads of cash these days. Suncor Energy Cranks Out Cash, but Outages at Syncrude Continue to Be an Issue Skip to main ...
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.
At the turn of the 21st century, oil sands development in Canada started to take off, with an expansion at the Suncor mine, a new mine and expansion at Syncrude, and a new mine by Royal Dutch Shell associated with their new Scotford Upgrader near Edmonton. Three new large steam-assisted gravity drainage (SAGD) projects were added – Foster ...
Suncor Energy is one of the cheapest integrated oil companies today, as lack of pipeline capacity is keeping bitumen prices low compared to other worldwide crude benchmarks. The Canadian giant ...
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