Suncor expects upstream production to rise 10 per cent in 2019 [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Reuters Published December 14, 2018 Updated December 14, 2018 For Subscribers Comments Suncor Energy Inc, Canada’s second-largest energy producer, said on Friday it expects average upstream production to rise 10 per cent in 2019, even after implementing Alberta’s mandated output cuts. Alberta has mandated temporary output cuts of 325,000 barrels per day (bpd) until excess crude in storage is drawn down. The Western Canadian province’s production cut, which will come into effect on Jan. 1, comes amid depressed prices for Canada’s heavy crude owing to pipeline bottlenecks. The mandated cuts are controversial because heavily integrated producers such as Suncor and Husky Energy Inc benefit from the low crude prices to feed their refineries. Story continues below advertisement Suncor forecast average upstream production of 780,000 to 820,000 barrels of oil
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