炼油厂(upgrader)工程 On hold

fancycat

Canadian Natural Resources defers Primrose heavy oil upgrader
Wed Mar 7, 6:21 PM
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CALGARY (CP) - Canadian Natural Resources Ltd. (TSX: CNQ.TO) has put its heavy-oil upgrader project on hold until Canadian environmental laws are more clear and service costs cool down, the oilpatch heavyweight said Wednesday.

  w4 T$ l2 f0 w/ CThe oil and gas company decided to defer the long-term plan to build the Primrose upgrader in northeastern Alberta after preliminary studies indicated the legislative and cost risks were too high.
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"It's the prudent thing to do," CEO Steve Laut said during a conference call.

" B/ y% ~" S* o8 Q  O/ x- ["We don't know what kind of greenhouse gas regulations are coming at us, and as you go into second phase of (planning), you start scoping out the size of the vessels, and of the flow, and we're not going to waste money designing something that may not be effective."
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The 125,000 barrel per day upgrader, originally slated to be in service in 2012, would process bitumen into more marketable light crude. The decision to put off the upgrader's design will not affect production plans for the in-situ oilsands project.
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. U4 u- `% b7 S6 v8 ~6 x$ w5 EAlthough Canada signed the international Kyoto Accord on climate change, which is supposed to limit the production of so-called greenhouse gases, the current federal Conservative government hasn't made clear how it will proceed.

However, Prime Minister Stephen Harper has significantly increased the Conservatives' attention to environmental issues as the federal parties jockey for position in case an general election is called.

  g+ K& C; T0 J( e7 _( v7 sEnergy companies have been pushing for legislative clarity on the issue from two successive federal governments, arguing the economic impact of following Kyoto guidelines would be severe.

Several companies, Canadian Natural Resources included, threatened to ship their refining needs across the border into the United States to take advantage of more industry-friendly tax laws.
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Going south to build the refinery remains an option, but not a likely one, Laut said in an interview.
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"Right now we want to see what's going to happen here with the regulations," he said. "And the cost increases and cost inflation is somewhat global. So we're not sure it makes much sense to go to the U.S. either."
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Taking the upgrader out of the company mix came as a surprise, but shouldn't have an impact on the Primrose project or Canadian Natural Resources, said FirstEnergy Capital analyst Martin Molyneaux.
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Pulling the $4-billion to $6-billion project off the market temporarily will probably alleviate the labour and supply crunch contributing to inflationary pressures, he said.

, p! G. ?% M% s; ^" {"The project is a fair ways off, and (CNQ) will have more time to use to their competitive advantage," Molyneaux said.

Finding qualified, experienced engineers to take on the now-deferred second phase of the upgrader would also be a huge challenge in today's tight market, he added.
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# f% A1 ~+ ]. |Canadian Natural Resources reported earlier a 72 per cent drop in fourth quarter net earnings to $313 million, down from $1.11 billion in the third quarter of 2006, and $1.10-billion the fourth quarter 2005.

" l3 e3 d2 w' BFourth-quarter earnings fell 72 per cent to $313 million, or 58 cents per share, from $1.1 billion, or $2.06 per share the previous year, when Canadian Natural Resources made an $825-million risk management, or hedging, gain.
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The drop was largely due to lower natural gas pricing, high service costs, and a strong Canadian dollar which impacted most of the oil and gas industry, Canadian Natural Resources said.

Adjusted year end earnings fell 18 per cent to $1.66 billion, or $3.10 per share, from $2.03 billion, or $3.79 per share the previous year.
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Canadian Natural Resource said its $6.8-billion Horizon oilsands project is 57 per cent completed, and on line for completion late next year, when it will contribute 110,000 barrels per day to the oilsands mix.

Adjusted quarterly operating profit slipped to $412 million from $470 million despite a nine per cent increase in production to 613,764 barrels of oil equivalent per day, 56 per cent oil and natural gas liquids.
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! J; X  H4 C" @- Y* ORevenue declined to $2.51 billion from $2.9 billion as CNQ's average fourth-quarter netback was down 27 per cent from a year earlier at $29.13 a barrel of oil-equivalent amid natural gas prices barely half of year-ago levels.

Percentage of revenues from crude oil and natural gas liquids increased 10 per cent, year-over-year, to 64 per cent. Crude netbacks rose 14 per cent to $36.88 per barrel, from $31.72 per barrel in 2005.
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0 T8 e7 n" r3 q3 VNatural gas percentage revenues dropped 10 per cent, with netbacks dropping 24 per cent to $4.61 per thousand cubic feet. Netbacks from natural gas were averaged $6.09 per mcf the previous year.

yj151

lulu

熊猫阿宝

这会延到什么时候啊？会影响大家期盼的众多人流涌入爱城吗？

warmwinter

天下无敌

那是不是房价该降了

chmwl

好思路

原帖由 天下无敌 于 2007-3-8 10:30 发表
那是不是房价该降了

minimoon

MyFairy

applemoon

没觉得是件不好的事情，一则保护环境，二则少了竞争。
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8 m. P+ C7 }0 X8 j0 ~% \" u不明白为什么你们这么期盼众人涌入爱城啊？人多了除了继续抬高房价外，生活工作各方面的质量都会差很多。房价已经高的可以了，不至于要这么贪心吧。

有事您说话

熊猫阿宝

确实，一个劲儿看房涨的人所援引最多的理由就是：又要建炼油厂了，又要进多少人了，大家都来抢房子，肯定还会使劲涨的。

WST

原帖由 不想长大 于 2007-3-8 14:20 发表
确实，一个劲儿看房涨的人所援引最多的理由就是：又要建炼油厂了，又要进多少人了，大家都来抢房子，肯定还会使劲涨的。

是不是应该先 check 一下缓建的炼油厂在哪儿。好像不在爱城。真对不起，扫大家兴了。

熊猫阿宝

原帖由 WST 于 2007-3-8 18:35 发表
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是不是应该先 check 一下缓建的炼油厂在哪儿。好像不在爱城。真对不起，扫大家兴了。

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我才不扫兴呢。就希望爱城的房价毫无阻碍地赶紧冲上去，然后才好开始跌。

WST

原帖由 不想长大 于 2007-3-8 18:47 发表

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我才不扫兴呢。就希望爱城的房价毫无阻碍地赶紧冲上去，然后才好开始跌。

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7 @, y: _4 O- O恐怕还要等几年。
" ]- C8 e5 V. B3 `可有策略在房市下跌时也赚到钱？

熊猫阿宝

所以我希望“快点”冲嘛
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我纯粹属于看热闹型的，没有投资房地产的热情（嫌麻烦），也不打算在埃德蒙顿长住，毕业了就走人了。您是大炒家，看到您去年分析房地产头头是道，极其崇拜。其实您没必要跟我这样讲话没有分量的小人物较真。哈哈。