A Syncrude transformer failure takes 360 MBOPD offline
On Friday OPEC secured an agreement to add production back onto the market in order to avoid a possible oil shortage due to declining production in Venezuela and Iran.

A disruption in Canada, however, has now singlehandedly wiped out half of OPEC’s added output, at least in the short term.

Syncrude’s oil sands facility near Fort McMurray will shut down for several weeks for repairs, cutting off a major source of oil production. A power transformer failed, forcing the entire complex o...

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