Syncrude Oil-Sands Project Suffers Coker Malfunction

The Syncrude oil-sands project in northeastern Alberta suffered an equipment problem at a coker, the project's largest shareholder said Tuesday.

The coker was shut down after an operational upset and Syncrude is working to investigate the incident and to re-establish production from the coker, according to a release by Canadian Oil Sands Ltd. (COS.T).

A coker is a piece of refinery equipment that breaks down crude oil into lighter petroleum products.

Canadian Oil Sands said it would maintain full-year production guidance for the project of 105 million to 107 million barrels, and would provide updates on the coker's status as they become available.

Syncrude is one of the largest oil-sands mining projects in Canada and produces about 300,000 barrels of oil a day. Syncrude is a joint-venture 36.7% owned by Canadian Oil Sands. Other partners include Imperial Oil Ltd. (IMO), Suncor Energy Inc. (SU), Chinese national oil company Sinopec Corp. (600028.SH), Nexen Inc. (NXY), Mocal Energy Ltd. and Murphy Oil Co. (MUR).

-By Edward Welsch, Dow Jones Newswires; 403-229-9095; edward.welsch@dowjones.com

Imperial Oil (AMEX:IMO)
Historical Stock Chart
From Jun 2024 to Jul 2024