Suncor Energy Inc. (SU,SU.TO), Canada's largest energy company, said Thursday that it expects production to be reduced by about 120,000 to 150,000 barrels per day during the two to four week repair period following a brief fire that occurred on Tuesday at one of the company's two oil sands upgraders north of Fort McMurray, Alberta.
However, Suncor said it does not expect the incident to impact its 2009 production outlook of 290,000 and 305,000 bpd.
The fire was extinguished within an hour, and there were no injuries and environmental impacts related to the incident.
The company said it is assessing the damage caused by the fire, and preliminary reports show no structural damage to the facility. The company currently expects repairs to take between two and four weeks.
Suncor shares are currently trading on the NYSE at $34.71, down $1.09 or 3.05%. On the TSX, the company's shares are currently trading at C$37.25, down C$0.65 or 1.72%.
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