Suncor’s base plant with upgraders in the oil sands in Fort McMurray Alta, on Monday June 13, 2017. The Alberta government has ordered a mandatory cut to crude oil production next year to deal with historically low prices. Forced Alberta government crude oil production cuts next year will result in “unintended consequences” that could include increased safety hazards for its employees, Suncor Energy Inc. warned Friday. Despite the curtailments that begin Jan. 1, Canada’s largest integrated oil and gas company forecasts its production will grow by 10 per cent in 2019 on a stand-pat capital budget of between $4.9 billion and $5.6 billion. The issue has opened rifts in the Calgary-based oilpatch with companies like Suncor, Imperial Oil Ltd. and Husky Energy Inc. opposed to curtailments which are supported by bitumen-weighted producers like Cenovus Energy Inc. and Canadian Natural Resources Ltd. The cuts announced by Premier Rachel Notley earlier this month are intended to bring industry output in line with pipeline capacity to drain trapped oil from the western Canadian market and reduce resulting steep discounts for crude oil. READ MORE: Alberta orders 8.7 per cent oil production cut to help deal with low prices Watch below: (From Dec. […]
