- More than half of the oil sands production from Canada could be impacted if the wildfires in Alberta and British Columbia worsen, Rystad Energy said in a report on Thursday.Companies like Suncor Energy, Canadian Natural Resources and Imperial Oil have oil sands projects within 150 km of Fort McMurry, an oil sands hub in Northern Alberta, with many workers living in the city.Canada's oil sands industry produces roughly 3.
Wildfire season typically runs from April until September or October, when cooler temperatures and rain help dampen fire activity in Canada.May is seasonally the maintenance season for the oil industry as it gets ready to ramp up production for the higher-demand summer driving season in North America, with an estimated 365,000 bpd going offline.
Excluding that, Rystad Energy estimates more than 2.1 million barrels per day of oil sand output could be impacted in a worst-case scenario, or 2.6% of global crude and lease condensate production. This comes up to around 52% of affected volumes of the synthetic crude produced from Canadian facilities, when accounting for maintenance impacts, or closer to 60% when excluding it."The current flora around Fort McMurray is still recovering from the events that took place eight years ago, thus, MFW-017 is spreading on the ground at a slower pace," said Thomas Liles, vice president of upstream research at Rystad Energy.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »