Suncor Focuses 2023 Capital on Oil Sands Growth in Alberta

February 17, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--Suncor Energy Incorporated (NYSE:SU) (Calgary, Alberta) enjoyed record bitumen production in 2022, driven in part by strong demand for synthetic crude oil (SCO), helping to offset the effects of softening commodity prices late in the year. The results followed completion of significant turnaround activities at Suncor's Oil Sands Base plant and Syncrude upgraders in Alberta, leading to 480,000 barrels per day (BBL/d) of SCO produced in 2022, the second-highest in the company's history.

Industrial Info is tracking more than US$16 billion worth of active projects from Suncor. Among Suncor's capital-spending priorities in 2023 is the replacement of coke-fired boilers with a cogeneration facility at its Oil Sands Base in Fort McMurray, Alberta, where it also is proposing an extension project to sustain its supply of bitumen in the long term. Other capital-spending priorities include the Mildred Lake West Extension project near Fort McMurray.

Other companies featured: Cenovus Energy Incorporated (NYSE:CVE)