Suncor provides capital spending, production outlook for 2017

Suncor Energy Inc., Calgary, said it expects its capital spending to reach $4.8-5.2 billion (Can.) in 2017. A midpoint would represent a $1-billion (Can.) decrease from 2016 (OGJ Online, Feb. 4, 2016).

About 40% of next year’s capex program is allocated toward upstream growth projects, including the Fort Hills oil sands project and the Hebron heavy oil project. Both are expected to reach start of production by yearend 2017.

The remaining 60% of capex is planned for sustaining upstream, downstream, and corporate segments.

Suncor’s forecast for production is 680,000-720,000 boe/d. A midpoint would represent a 13% increase over 2016. Suncor did not provide an outlook for production in Libya because of continued political unrest.

The company’s refinery utilization rate is expected to be 92-96% of capacity at Montreal, Sarnia, Edmonton, and Commerce City.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Shell Leverages Data to Transform from Reactive to Predictive Operations

This 6-page report describes how Shell engaged in a massive project with OSIsoft to transform the...

Selection, Use, Care and Maintenance of FR Clothing

For industries operating in an inherently dangerous environment, the importance of selecting the ...

Evolution or Revolution: IT / OT convergence means a world of possibilities

The oil and gas industry is experiencing a rapid paradigm shift in regards to digital transformat...

Predict, Prescribe, Profit: Creating a World that Doesn't Break Down

What are you doing to reduce unplanned downtime at your plant? Equipment breakdowns and process i...