Canada's Oil Sands Production Takes Big Hit Due to Fort McMurray Fire

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Researched by Industrial Info Resources (Sugar Land, Texas)--The enormous wildfire that spread across parts of Alberta, Canada has caused the shutdown of as much as 1 million barrels per day (BBL/d) of oil sands production, according to news reports.

The wildfire, which was reported to have spread over 383.3 square miles and has caused the largest evacuation in the province's history (more than 80,000 people), has caused companies to reduce oil production activity as well as the shutdown of many major production sites. For information on the early industry forecasts affected by the fire see Industrial Info's May 5, 2016, article--Fort McMurray Wildfire May Impact Oil Sands Plants, Projects.

Major facilities that have been shut down include:

• ConocoPhillips Company's (NYSE:COP) (Houston, Texas) Surmont Oil Sands plant located south of the hamlet of Anzac.
• Nexen/CNOOC's (Calgary, Alberta) Long Lake steam-assisted gravity drainage (SAGD) bitumen production complex and upgrader.
• Athabasca Oil Corporation's (Calgary) Hangingstone SAGD bitumen production plant.
• Royal Dutch Shell plc's (NYSE:RDS.A) (The Hague, Netherland) joint venture's (Albian Sands Energy Incorporated) Muskeg River Oil Sands Mine

According to Bloomberg, the shutdowns are boosting Canadian crude prices.

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