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Canada's Oil Sands: Imperial announces first production from Kearl


Canada's Oil Sands: Imperial announces first production from Kearl

Report summary

The start-up of Imperial and ExxonMobil's Kearl makes it the first oil sands mining project without an associated upgrader. Phase 1 will incrementally ramp up to its design capacity of 110,000 b/d over the course of 2013. We value Kearl, including the first two phases and subsequent debottlenecking, at Cdn$13.8 billion (US$12.8 billion).

What's included?

This report includes 2 file(s)

  • Canada's Oil Sands: Imperial announces first production from Kearl PDF - 478.90 KB 5 Pages, 1 Tables, 2 Figures
  • Canadas Oil Sands Imperial announces first production from Kearl.xls XLS - 55.50 KB

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This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

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  • Kearl's Phase 1 on its way to 110,000 b/d
  • Phase 2 and beyond will push to 345,000 b/d
  • Positive project economics despite cost overrun
  • First mining project to market non-upgraded product
  • What next for oil sands mining sector?
  • Appendix – Economic assumptions and company refining positions

In this report there are 3 tables or charts, including:

  • Kearl's Phase 1 on its way to 110,000 b/d
  • Phase 2 and beyond will push to 345,000 b/d
  • Positive project economics despite cost overrun
    • Changes to WTI pricing relationship yield massive value swings for both Kearl phases
  • First mining project to market non-upgraded product
    • Kearl now the fifth and most north-easterly onstream mining project
  • What next for oil sands mining sector?
  • Appendix – Economic assumptions and company refining positions
    • ExxonMobil and Imperial benefit from a large and diverse North America refining presence
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