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Syncrude Under Repair For 30 Days, Output Cut By 100,000 Bbls/d

By Edward Welsch Of DOW JONES NEWSWIRES CALGARY -(Dow Jones)- The Syncrude oil-sands project will be under repair for about 30 days and its production cut by roughly 100,000 barrels day after a fire last weekend, a spokeswoman for the project's largest stakeholder said Friday. The exact restart date hasn't been set, Canadian Oil Sands Ltd. (COS.T) spokeswoman Siren Fisekci said. The fire on March 2 shut down one of Syncrude's three coking units, which are used to remove heavier grades of petroleum from oil sands in order to create light synthetic crude oil. The plant's production has been cut by roughly a third from its normal capacity of 350,000 barrels of oil a day, Fisekci said. Syncrude is a joint venture oil-sands project in northeastern Alberta operated by Imperial Oil Ltd. (IMO). The other stakeholders are Suncor Energy Inc. (SU), China Petroleum & Chemical Corp. (600028.SH), Nexen Inc. (NXY), Murphy Oil Corp. (MUR) and Mocal Energy Ltd. -By Edward Welsch, Dow Jones Newswires; 403-229-9095; edward.welsch@dowjones.com

Stock News for China Petroleum (SNP)
DateTimeHeadline
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12/05/201217:06:13ADR REPORT: Shares End Higher; Resource Firms Gain on China Hopes

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