- Write by:
-
Wednesday, September 9, 2020 - 12:40:04 PM
-
534 Visit
-
Print
Mining News Pro - The Fort Hills oil sands mine, in northern Alberta, will restart the second primary extraction train, ramping up production to about 120 000 bbl/d by the end of the year, majority owner Suncor Energy announced on Tuesday.
The second train at the Fort Hills joint venture with Total and Teck Resources will be restarted this month and once operational, the owners would evaluate further increases to production.
Production has been stifled at the 194 000 bbl/d oil sands mine since the Alberta government in 2019 mandated an oil curtailment order to ease congestion on export pipelines.
The restart of the second train at Fort Hills will lay the foundation for improved cost effectiveness through optimisation of the mine fleet, without the use of additional contractors, and will include the completion of the full deployment of autonomous haul trucks by the end of 2020.
Teck said in a statement that, assuming ongoing production at Fort Hills on this basis, its production guidance for the year had been narrowed from between 100 000 bbl/d and 120 000 bbl/d, to about between 105 000 bbl/d and 115 000 bbl/d. Teck’s share is 21.3%.
The unit operating costs guidance has also been lowered by C$2 a barrel to between C$35/bbl and C$38/bbl for the year.
Short Link:
https://www.miningnews.ir/En/News/597107
![Europe’s biggest pension fund sells €10 billion in fossil fuels](/Incsys/Photo.aspx?image=/Uploads/News/20240601220757965.jpg&width=236&height=180)
Europe’s biggest pension fund, Stichting Pensioenfonds ABP, has exited all liquid assets in oil, gas and coal worth ...
![Elliott notches win with Suncor as shares rise to 16-year high](/Incsys/Photo.aspx?image=/Uploads/News/20240524143415977.jpg&width=236&height=180)
Suncor Energy Inc. shares rose to an almost 16-year high after the oil-sands producer accelerated plans to ramp up share ...
![Nigeria revokes 924 dormant mining titles, seeks new investors](/Incsys/Photo.aspx?image=/Uploads/News/20240429164827370.jpeg&width=236&height=180)
Nigeria has revoked 924 dormant mining titles immediately and invites investors to freely apply for the affected ...
![Russian court orders Glencore to pay shares worth 114.8m euros in Sberbank lawsuit](/Incsys/Photo.aspx?image=/Uploads/News/20240417232928936.jpeg&width=236&height=180)
A Russian arbitration court ruled on Monday that four units of Swiss commodities trader Glencore will pay more than 11.4 ...
![US awards record $6bn to back industrial emissions reduction projects](/Incsys/Photo.aspx?image=/Uploads/News/20240326221729922.jpg&width=236&height=180)
The US Energy Department on Monday announced $6 billion in federal funding to subsidize 33 industrial projects in 20 ...
![Banks shying away from fossil fuels bolster private credit deals](/Incsys/Photo.aspx?image=/Uploads/News/20240326221619249.jpeg&width=236&height=180)
Private credit managers are doing significantly more fossil-fuel deals now than just a few years ago, as they step into ...
![Senegal opposition coalition promises new currency and revamp of oil contracts](/Incsys/Photo.aspx?image=/Uploads/News/20240313234626731.jpeg&width=236&height=180)
A Senegalese opposition coalition backed by popular firebrand Ousmane Sonko launched its presidential campaign platform ...
![Oil and gas upstream M&A deal value hits highest Q1 levels since 2017](/Incsys/Photo.aspx?image=/Uploads/News/20240229193858447.jpeg&width=236&height=180)
An ongoing consolidation in the US shale industry has driven up global M&A deal value in the oil and gas exploration ...
![Nature emits mercury but not as much as humans do](/Incsys/Photo.aspx?image=/Uploads/News/20240108214111247.jpeg&width=236&height=180)
Mining News Pro - Even though it has been estimated that anthropogenic activities have increased the global mercury ...
No comments have been posted yet ...