Canada's Oil Sands: Imperial announces first production from Kearl
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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).
Table of contents
- 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
Tables and charts
This report includes 3 images and tables including:
- Changes to WTI pricing relationship yield massive value swings for both Kearl phases
- Kearl now the fifth and most north-easterly onstream mining project
- ExxonMobil and Imperial benefit from a large and diverse North America refining presence
What's included
This report contains:
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