Suncor Energy Inc. (SU)

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Suncor maintains 2017 production guidance despite Syncrude outage

Suncor Energy (NYSE:SU) says it does not expect a change to overall 2017 production guidance from the current outage at the Syncrude plant in Alberta, as strong production from oil sands and offshore operations should offset the impact.

SU says the damage at Syncrude largely was isolated to a piperack adjacent to the hydrotreater, and it has developed an accelerated repair schedule to achieve restart of pipeline shipments at ~50% capacity in early May and full production rates by the end of June.

Syncrude has the capacity to produce 350K bbl/day, but production in April was cut to zero and brought forward planned maintenance after a fire that damaged the facility.