Suncor production misses mark
Jan 11, 2008 04:30 AM
CALGARY–Suncor Energy Inc. says its oil-sands production during 2007 averaged about 236,000 barrels per day, short of the target 240,000 to 245,000.
In December, output at Suncor's oil-sands operation at Fort McMurray, Alta., averaged 234,000 barrels per day, down from 266,000 in November.
Suncor reports production numbers monthly from its operations. The numbers are preliminary and subject to adjustment.
Production volumes will be confirmed when fourth-quarter financial results are released Jan. 22.
Suncor Energy's oil-sands business extracts and upgrades oilsands and markets refinery feedstock and diesel fuel, while its operations throughout Western Canada produce natural gas.
Suncor also operates a refining and marketing business in Ontario, with retail distribution under the Sunoco brand. U.S. downstream assets include refining operations in Colorado and retail sales in the Denver area under the Phillips 66 brand.
Suncor fell $3.05, or 2.8 per cent, to $106.11 yesterday in Toronto.
