Canadian Oil Sands says Syncrude coker turnaround completed

Tue Aug 27, 2013 6:10pm EDT
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CALGARY, Alberta Aug 27 (Reuters) - A coker at Syncrude's northern Alberta oil sands project is back in operation after the completion of maintenance work that started in June, Canadian Oil Sands <COS.TO, the largest shareholder in Syncrude, said on Tuesday.

"Canadian Oil Sands today announced that the turnaround of Coker 8-1 has been completed and the unit is back in operation," the company said in a statement.

Syncrude's month-on-month production was down 17 percent in July, partly as a result of the coker turnaround, and tighter supply has helped support synthetic crude prices in recent months.

Light synthetic crude from the oil sands for September delivery settled at $2.25 per barrel above the West Texas Intermediate benchmark on Tuesday, according to Shorcan Energy brokers.

That compares with a settlement price of $2.75 per barrel above the benchmark on Monday.