19:44:03 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Canadian Oil Sands Ltd
Symbol COS
Shares Issued 484,614,224
Close 2015-09-03 C$ 6.46
Market Cap C$ 3,130,607,887
Recent Sedar Documents

Globe/wire say production tumbles at Cdn Oil's Syncrude

2015-09-04 05:50 ET - In the News

The Globe and Mail reports in its Friday, Sept. 4, edition that Syncrude expects to return to normal operations toward the end of September, confirming market talk of an extended outage after last weekend's fire. A Reuters dispatch to The Globe reports that Syncrude's majority owner Canadian Oil Sands ($6.46) says the venture will operate with "minimal synthetic crude oil shipments and operating rates" for the next two weeks as part of a phased recovery. The disruption means that Syncrude output this year will be "near the low end" of the current projected range of 96 million to 107 million barrels. Canadian Oil Sands says the fire had damaged "pipes, power and communication lines on a pipe rack between a hydrotreating unit and its associated amine unit," but did not damage mining and extraction operations or other major upgrading units. The operating rates of undamaged units have been "safely reduced in a controlled and stable manner." Cash prices of Canada's synthetic crude jumped on Wednesday, swinging to a premium against American crude on the growing fears of a prolonged outage after the fire at the facility's Mildred Lake upgrader on Saturday.

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