Canada's Oil Sands: Highlights from Q4 2013 results
Operational reliability improved across the oil sands sector in the last quarter of 2013. Each of the five mining projects achieved the highest quarterly production rates of the year. In situ production also fared well on aggregate, with quarter-on-quarter gains at Christina Lake and MEG Christina Lake offsetting reductions at Primrose. However, production gains did not translate directly to increased profits, as price realisations fell sharply for both bitumen and upgraded synthetic crude.
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Price reductions impact both bitumen and synthetic crude producers