Suncor Power Inc. will delay a deliberate upkeep shutdown at its Base Plant oilsands mine upgrader in view of surging COVID-19 outbreaks that led to a state of emergency being declared final week for the Fort McMurray space of northern Alberta.
CEO Mark Little says the delay of the upkeep “turnaround” for one of many coker models within the upgrader will permit the corporate to cut back the variety of contractors within the area till after comparable work now underway on the close by Syncrude oilsands mine is accomplished, with out affecting manufacturing steering.
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Suncor produced 519,900 barrels per day of upgraded artificial crude within the first quarter, up from 503,600 bpd within the first quarter of 2020, due partly to efficiencies from completion of a challenge so as to add pipeline connections between upgraders at its Base Plant and Syncrude (which is 58.74 per cent owned by Suncor).
Suncor’s complete manufacturing was 785,900 barrels of oil equal per day, in contrast with 739,800 boe/d in the identical quarter of 2020, as steam-driven manufacturing of bitumen from wells reached a report stage of 170,700 barrels per day.
The Calgary-based oilsands producer and refiner says it earned $821 million within the first three months of 2021, together with a $181-million unrealized after-tax international trade achieve on the revaluation of debt and an after-tax restructuring cost of $126 million associated to workforce reductions.
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Suncor mentioned lately it had lowered its worker rely by about 600 in 2020 and can make extra cuts this yr. The corporate introduced in October it will cut back complete workers by 10 to fifteen per cent, or as many as 1,930 jobs, over 18 months.
“At present, the third wave of the pandemic in Canada is considerably impacting the area of Fort McMurray,” Little mentioned on a convention name.
“Given this example, and with Syncrude in the course of turnaround schedule, we’ve delayed the beginning of our U2 turnaround at Base Plant till not less than June … This choice helps the completion of Syncrude turnaround and minimizes the overlap between the 2 belongings.”
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Within the first quarter of 2020, Suncor misplaced $3.5 billion, together with $1.8 billion of non-cash after-tax asset impairment prices and a $1 billion unrealized after-tax international trade loss on the revaluation of U.S. greenback denominated debt.
In line with data offered to International Information by Alberta Well being Monday, Suncor’s Base Plant was listed on the COVID-19 outbreak listing with 616 complete circumstances. Of these, 159 have been lively on Monday.
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