CALGARY, Sept. 2 /CNW/ - Suncor Energy Inc. reported today that
production at its oil sands facility during August averaged approximately
260,000 barrels per day (bpd). Year-to-date oil sands production at the end of
August averaged approximately 221,000 bpd.
While total production volumes are at expected rates, the proportion of
sweet (low-sulphur) crude oil products was lower than planned during the month
due to an unscheduled shutdown of a plant which supplies a portion of the
hydrogen used to remove sulphur from synthetic crude oil and diesel fuel.
The expected duration of the repairs to the hydrogen plant is being
assessed, but Suncor currently expects work to be completed in the fourth
quarter of 2008. The proportion of low-sulphur crude oil and diesel production
will continue to be impacted during the period of the shutdown, but the
outlook for annual average production volumes of 240,000 to 250,000 barrels
per day is not currently expected to change. The company's annual outlook,
including product mix and volumes, will be reviewed and updated as necessary
when Suncor's third quarter results are released on October 29, 2008.
On a monthly basis, Suncor reports production numbers from its oil sands
operation in order to provide stakeholders with a more timely review of
operational performance. These numbers are preliminary and subject to
adjustment. Monthly totals may differ from year-to-date total due to rounding,
the impact of sales and changes in inventory.
This news release contains forward-looking statements that address goals,
expectations or projections about the future. These statements are based on
Suncor's current goals, expectations, estimates, projections and assumptions,
as well as its current budgets and plans for capital expenditures. Some of the
forward-looking statements may be identified by the words "expected",
"planned", "outlook" and similar expressions. These statements are not
guarantees of future performance. Actual results could differ materially, as a
result of factors, risks and uncertainties, known and unknown, to which
Suncor's business is subject. Further discussion of the risks, uncertainties
and other factors that could affect these plans, and any actual results, is
included in Suncor's annual report to shareholders and other documents filed
with regulatory authorities.
Suncor Energy Inc. is an integrated energy company headquartered in
Calgary, Alberta. Suncor's oil sands business, located near Fort McMurray,
Alberta, extracts and upgrades oil sands and markets refinery feedstock and
diesel fuel, while operations throughout Western Canada produce natural gas.
Suncor operates a refining and marketing business in Ontario with retail
distribution under the Sunoco brand. U.S.A. downstream assets include pipeline
and refining operations in Colorado and Wyoming and retail sales in the Denver
area under the Phillips 66(R) brand. Suncor's common shares (symbol: SU) are
listed on the Toronto and New York stock exchanges.
Suncor Energy (U.S.A.) Inc. is an authorized licensee of the
Phillips 66(R) brand and marks in the state of Colorado. Sunoco in Canada is
separate and unrelated to Sunoco in the United States, which is owned by
Sunoco, Inc. of Philadelphia.
For further information:
For further information: Media inquiries: Brad Bellows, (403) 269-8717;
Investor inquiries: John Rogers, (403) 269-8670