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MARKETS LIVE BLOG:

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Syncrude says Alberta oil sands mine shut down because of wildfire

Reuters
Royal Canadian Mounted Police officers work at a roadblock as smoke rises from wildfires south of Fort McMurray, Alberta, Canada, May 6, 2016. REUTERS/Chris Wattie (Reuters)

CALGARY, Alberta (Reuters) - The Syncrude oil sands project has completely shut down extraction at its Aurora bitumen mine and is operating other facilities at minimum levels, the result of the Fort McMurray wildfire, Chief Executive Mark Ward said on Friday. Syncrude in northern Alberta, majority-owned by Suncor Energy, is a mining and upgrading project that produced 315,000 barrels per day in the first quarter. It was on turnaround before the fire broke out, meaning production volumes were already reduced. (Reporting by Nia Williams; Editing by Steve Orlofsky)