Shaun Polczer
Calgary Herald

Thursday, June 1, 2006

Delays to Syncrude Canada Ltd.’s latest expansion project will reduce oil production estimates by about six per cent for 2006, according to the joint venture’s largest stakeholder, Canadian Oil Sands Trust.

Canadian Oil Sands, which holds a 35 per cent stake in Syncrude, now expects gross annual output to total 90 to 100 million barrels compared to a previous forecast of 95 to 106 million barrels.

Likewise, the trust reduced its 2006 revenue forecast by about five per cent to $2.23 billion.

Start-up of the 100,000 barrel a day Stage 3 expansion was put on hold after Fort McMurray residents complained of noxious odours coming from a new flue gas scrubber designed to reduce sulphur emissions.

Repairs are expected to take up to two months to complete.([1] Source — off-site)