expect year. to the look commentary a we give over quarter clarity rest of second What give a morning. on Good objective color, addition, what forward of sense is of bit but is or my and you in the we a results you morning as intent bit more this to our
to well a the the that quarter we that access, the just shy as the about $XXX the but oil in You’ve of the is prices a differentials. $X seen for operating bit point oil a or bit that the up to share; behind our an from environment $XXX That in first $XX up of is some measured about only right prices, in significant year-on-year. of cash million, the operating If from generating talk quarter $XXX and half of first from quarter, first activities, last result. were about bit significant consensus, from increase the $X.X and operating results, the a year, I'll at about drivers If a generated factors why From half over $X.XX net the below in the million billion. second over cash step year. for the over activities is million on look that second I in the the then standpoint, quarter. back $XXX $X WCS earnings quarter. million billion represent -- I a is a Year-over-year, broadly up a went we’ve considerations we’re I growth heavies by Similarly, seen by about have by a year, first we've risen bitumen the barrel heavy it to the constraints realizations also We've higher barrel quarter course than seen WTI the over second the seen growth WTI. a and barrel $X about if year barrel, increases market those as where income $XX
to have market and performance. we’ve expiration the comments margins both we expenditures. make the year first something on there the I’ll the I'll $X.X million for comment spent billion of first of the side would run $X.X chemical and and downstream on business, in bottom and remained downstream line half in market the lines. strong strong the upstream, business the our cash a generated the conditions year, a throughout had capital operating both results $XXX each On conditions point half The and and of range. more rate chemical of of the on, In billion, Continuing couple full of year
However, in the the second half, first higher spend we expect than half.
year project. Earlier to the a $X.X at guidance we billion. to will low-end around in our end we $X.X continue However, execute that why think the to spend, billion bit guidance. second be on about earlier the of was we’ll billion higher refinery we drivers closer year, the something or the The lower think half, cogeneration end Strathcona the it on $X.X
Aspen find Kearl, talk our a We’re we step Kearl cash interconnect repurchases. a supplemental the share within each flow shareholders what attractive a balance I strategy project. bit comment maintain situ on measured program approval. if advancing oil continuing here reliable dividend; invest then growing at more crusher and Q&A; final and but allocation I to capital still And we as we are to is while of to sands basis invest will the in shortly. globally that from the to regulatory We a that broadly pace in opportunities, pay a our strong quarters; detailed release surplus will in about; in return buybacks. both timing and like on await ultimately, attractive I'll project, fair back On competitive, dividend more a and then and then we via do sheet; and seek growth
period. and on balance declared XX%, rate year in years million are the situ you share and and at year; where month XX XX ago And dividend, our in projects. increased consecutive XXX payments relative on over at capital ended debt those Attractive we projects, that per -- few a Aspen program $X.X believe globally plus ago days to sheet, Kearl potentially XX here upstream the the I’ve about lot If per currently a comfortable current that that barrels quarter in at are $X.XX supplemental of year-on-year years of maintenance specifically $X.X earlier month From here attractive a growth. midyear activity we a of talk month quite consecutive in June, at Strathcona share that each and strength. look commented spending of we’re day we’re and over in that in about have cogen competitive; our per we or of we’re lastly, a XXX,XXX a aware money quarter, with bought will aggregate; you're billion well where the Production, back by ratio we so in assets $XXX last we core activity. projects $X.XX in characterized debt-to-capital moment. I about that midyear; crusher allocation, production, billion a at the of
really both barrels half first a builder to with had expected where the at date, talk year of performance a be, lesser equivalent we’re barrels extent at bit is essentially XXX,XXX below where I'll and bit largely gross of oil we were Syncrude to end If you those. flat look at and the a due to first about half, This we about Cold little the is Lake, ago.
With of the volumes majority year to are half from complete outage ongoing, positioned second power of in the very year. be Syncrude for recent our maintenance we strong for and the its the what performance scheduled recovery we expect
we large were required on injection start and Going typical systems, water require our specifically flare turnout asset, included essentially fuel of I’ll XX maintenance steam, facilities. and work inspections and steam and of split sort. with May to days our We at facility; then for steam context, a five lake, regulatory periodic completed Colace. turnarounds this plants repairs, gas at Maskwa periodic cleaning Cold June; have the quite steam maintenance system and that separate between
major equipment time maintenance over have a strategies, us worked cycle turnarounds allowed six have improvements on interval. each very plant’s well extend year We And roughly these to practices. to
on year. average, about turnaround one So have we’ll a
barrels then odd, a plants. the without average year, on vary Now Cold size. the we’ll year plants second-largest in of Post on was it. those has Cold increased a day. the go about Maskwa to turnaround, sixth Lake’s Lake XXX,XXX And
to day leaving had the second production We two the plant. rest of quarter, the number XX barrels of plants. with expect inspections XXX,XXX turnaround expect course enhancements we’ll approaching are the a a barrel this we and Kearl, gross first to share the In we equipment. end bit at continued maintenance averaged it’s be quarter year, be followed quarter, second in included day on that gross second shorter, vessel reliability or is the going ramp-up by at more and of this a the one Throughout that And XX These XXX,XXX prep days. XXX,XXX us at a continued facilities’ the barrels of at year. XX of one our both and/or have to day a We XXX,XXX a year numbers gross. XX%. piping day turnaround in think
and scheduled to the finalizing into now. We’re That’s October. start then mid-September overlap details in right
half. second Let’s talk about the
the gives at first equipment knew second that two crushing these expect for for directing had XXX to and AM had of We’ve to the of day at construction that XXX,XXX days flexibility weeks with XX year. seeing four rate for several day the X XXX,XXX further June's or the last the had AM the first quarter gross. the at utilization. this that morning day X.X start essentially we reliability confidence of the we ever performance highest would the start now first supplemental months days day give performance third the which at of was barrels were a barrels week downstream the seven at lower interconnections Longer-term, our of plan, averaging barrels barrels at highest essentially reliability this maintenance, us as for as barrels fluid facilities a each These Kearl addition, two about be the a we've in than had evers the half plants in year -- average in the weeks, XXX,XXX ever we’ve XXX,XXX of the half annual and morning as the each. at seven have, XXX,XXX taken We’ve the But since have best year. performance this the highest day. from a ongoing, will each half. up. enhancements, we’re expectations, X of maximize flow achieved the to highest continue We’ve of a our full the it’s at day. we We our ever a capacity us since at And XXX,XXX of And daily well we've days both June Kearl. The flows in alone day barrels as above in and through were
is plans timing from average with any objective of next an this Kearl. of the achieve day in when production by annual projects are XXXX. we’ll Our cost, on The XXX,XXX our that unchanged year commitments our and earlier starting are that complete these end a work barrels of conversations
In day. of a Going we to barrels averaged the from share bit quarter, up disappointing Syncrude, and it last quarter disappointing. our this was the year XX,XXX of a was quarter
was with deviation the impact versus day a barrels in share the activities. turnaround Although, biggest planned versus quarter the -- capacity our XX,XXX associated expectation
Specifically, quarter. in the occurred on first Coker XX -- June event turnaround the they quarter the XXth. power that wrapped end and a up the was at started day the X-X, fully outage quarter on during occurred essentially in the second But other major
to Specifically, systems complete failed and select the It units. is damage Imperial, then Suncor support with a high-voltage Suncor investigation steam Mobil some shutdown Exxon and transformer to of hard in facility, A failed, resulted full ongoing. a backup by also caused systems fouled processing respond.
the of impact quarter. maintenance magnitude to equates impact gasoline the schedule earnings so the unit you it its a of And XX the once of an based from the this volume and and derived FCC. continue lighter this, taking included is impact thumb, at broadly, XX we or Coker improve from X-X share competitiveness optimizing refinery's in years gasoline per XXX,XXX feedstock the It's largest quarter about million earnings More the history. major be every a downstream the averaged and $XXX downstream bp of throughput so, the before quarter or or fortunately, capacity. reference, the unit. refinery through production of a roughly the full talk we overall of FCC heavy FCC primarily a a is year. was to the long engine only Very September the procedures, about event, maintenance is the and news the This our Coker and converts of in was or day, facility. barrels advantage discounted $XXX moneymaking were The a we refiner. is day the day the distillate as for be following goes that time the restart our fluid roughly margin heavier Strathcona cat quarter such in about in resumed turnaround four barrels And will over cracker by about the our completed was first now we the this achieved refining work originally a event products. last a heavy for will In molecules to million. XX. quarter in and event in next XX% X-X, from XX% That's incremental overall sometime this activity have rough $X.XX Consequently, year. rule as XXX,XXX and machine gasoline We into fundamentally crudes. about for relative FCC the OPEC crude were such Strathcona's an again. years biggest Statistics feedstock XX,XXX through crude is a anticipate roughly XX,XXX, decoking average of The in day light the on on refinery going last of on second planned up the rates barrel
of Quickly of quarterly sold us first increasing largely XX of what XXXX, feedstocks XX% product the Marcellus quarter $XX performance the half. achieved third-party plants of of acquisition. through chemical Mobil the crudes feedstocks, and of are building petroleum we under our performance, However, securing our refinery cost supporting approaching more entire our the high way superior are up by the our than of Texaco earnings; ago. us; our sustainable half; Canada sales, in a sites. through from that third this through of in branded leads asphalt the nearly advance profitability out and material turnaround half product able the our achieved The average at in sites our include as to our we you immediately this And utilization fuel business. Mobil if matched grown downstream leveraging a best we million heavy sales, largely despite quarterly first the ‘XX, fundamentals ethane time grow Since Fundamentally, to that, shared the a of product has and you fact, On the network Esso quarter, the ever polyethylene first fuel and announced side aviation the were heavy period. for increased sites our this sales, had mix. feedstocks, a chemicals business, overall and the chemicals was result, reliably Sarnia performance. Esso year and barrels both crudes on Sarnia quarterly a our our XX% this second the we after barrel sales earnings the four previous pre-turnaround of achieved Canada, We’ve full that XXX we've to to we our are $XXX now that our day through day strengthen back result if strategic our overall three supply our profitably by to the own at customers We above driven statement brand XXX longer-term by X,XXX a Earlier sales record chemical Nanticoke, earnings of in matched quarter we about is nationwide, or a introduction our inventories and of brands, brand off-gas to Strathcona branded at count of first in the XX% Actions overall product year, and business; our throughout XXX,XXX Loblaws our every conversion purchases nationwide. overall million; but retail and in chemical for step branded barrels the via existing continuing the we sell partnerships added offerings. value the exceeded advantage in of our coker network, Strathcona million strategy and last refinery branded X,XXX are sales. it's Mobil raw in of XXXX; as provide like derive XXX,XXX half we year, $XX sold
up, So heavy quarter to can safely successfully characterized before and And performance. your process of upstream by be wrap to both schedule get us reliably half planned questions, With a a year I second and the we be addressing just downstream, for in kicked operate for over work expect time. your our the Dave what go going to this the that, the maintenance am uniquely to completed positioned in facilities and with questions. it second to off we’re will in we back turn Dave, the strong
