Suncor’s Fort Hills secondary extraction project in Alberta
Suncor unshackles oil sands
Output scaled up as company eyes falling breakeven and billions in additional cash
Canadian oil sands operator Suncor Energy expects to lift production by 5pc next year—averaging 750,000-790,000bl/d oe—with market conditions looking healthy post-pandemic and a competitive $35/bl breakeven. Open-pit mining at Suncor’s Fort Hills development, in Alberta’s Athabasca region, is one of the key growth drivers for the company and production is projected to lift by 82-89pc next year, accounting for c.11.3-12.7pc of Suncor’s portfolio. “We are right on plan, and we will have both trains at full rates intermittently in December to ensure a seamless transition to full operating mode,” says Mark Little, Suncor CEO. “Our expectation for 2022 cash operating cost per barrel is in th
Also in this section
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
12 May 2025
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
