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RE: Market Financial woes hit Some Oil Sands Projects/Upgraders

Home Forums Coking News: DCU, Upgrader 3.Upgrader (registered users only) Market Financial woes hit Some Oil Sands Projects/Upgraders RE: Market Financial woes hit Some Oil Sands Projects/Upgraders

#6525

Charles Randall
Participant

Here is update on impact of global financial crisis on some new Oil Sands projects as credit tightens, oil price drops and heavy crude differentials shrink.
 
This article mentions BA Energy upgrader that has been pushed back, the small Montana Connacher Refinery Bitumen project has been canceled, and the Fort Hills Upgrader may be retooled but was more impacted by usual 50% cost increase to $23 Billion than the other financial & oil market impacts upon the others.
 
There are still over 10 new upgraders in just Alberta area being built or moving to construction stage however.
The decrease between Bitumen and Syncrude oil price will impact choices on type of Bitumen blend made at upgraders and the timing of phases to bring upgrade cokers online. 
Regards

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