Suncor Refinery Experiences Equipment Damage

Suncor Energy (NYSE: SU) has revealed that its Commerce City Refinery experienced equipment damage in the days leading up to December 24, 2022.

The damage was sustained due to the “extreme and record-setting weather impacting much of the United States”, Suncor outlined. The company noted that, on December 24, it was determined that the entire facility would be shut down and put into safe mode to allow for the inspection of all units and repair of the damaged equipment.

“The inspection and repair of the damaged equipment is ongoing,” Suncor Energy said in a recent company statement.

“Based on our current assessment we anticipate a progressive restart of the facility with a return to full operations expected to be completed by late Q1 2023,” the company added.

The Commerce City Refinery comprises three plants from two refineries, which Suncor acquired in 2003 and 2005, Suncor Energy highlights on its website. This is the only facility of its kind in Colorado and the largest in the Rocky Mountain Region, processing approximately 98,000 barrels per day, Suncor Energy’s site notes.

The facility contributes $2.5 billion to Colorado’s economy annually, according to Suncor Energy’s site, which outlines that the refinery produces gasoline, diesel fuel and paving-grade asphalt. A $445 million upgrade was previously completed at the site, Suncor Energy’s website shows. This has enabled the refinery to meet clean fuels regulations and handle a wider range of oil sands products, the site states.

Suncor operates refineries in Alberta, Ontario and Quebec in Canada, and in Colorado in the U.S., according to its website. The company describes its refining and marketing operations as “a vital link between our large Canadian resource base and the growing North American energy market”.

Suncor defines itself as a a globally competitive integrated energy company with a global team of over 30,000 people.

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