Syncrude Canada Ltd. will reduce its October synthetic crude oil sales by 1.4 million barrels after planned maintenance at the problem-plagued facility was extended, Reuters reported Oct. 3, citing three market sources.
The 360,000 barrel-per-day oil sands plant shut down June 20 after a power failure — the latest of many unexpected outages at Syncrude — and ran at partial capacity through most of the summer. Parent company Suncor Energy Inc. said in a July investor presentation that Syncrude had maintenance planned in the third and fourth quarters.
Suncor owns about a 59% stake in Syncrude, while Exxon Mobil Corp. Canadian subsidiary Imperial Oil Ltd. owns a 25% stake and operates the facility. China-based China Petroleum & Chemical Corp. and Nexen Inc. hold the rest.
Suncor, the world's largest oil sands producer, explores, produces and markets crude oil and natural gas in Canada and internationally.
