how many oil refineries in canada 2022

These various sprawling pipeline networks initially carry crude oil to refineries, where it is processed into gasoline, diesel fuel, and other petroleum products. The complex is located in Jamnagar, Gujarat, India. . Upgrading was used to commercialize the oil sands when it started production in the late 1960s, because there was no other way to transport bitumen to markets. How many oil Refinerys are there in the US? Source: Refinery Capacity Report. ", BP, Oil refinery capacity in Canada from 2004 to 2021 (in 1,000 barrels per day) Statista, https://www.statista.com/statistics/265278/oil-refinery-capacity-in-canada/ (last visited January 19, 2023), Oil refinery capacity in Canada from 2004 to 2021 (in 1,000 barrels per day) [Graph], BP, June 28, 2022. Meanwhile, the total distillation capacity of all refineries combined increased from a low of 14.4 million barrels per calendar day in 1985 to a high of 18.7 in 2019. Aug 29, 2022. The demand for petroleum products is approximately evenly split among the regions, with Atlantic/Quebec, Ontario, and the West accounting for almost one-third of total sales each. They feed refineries which create the products we use every day such as the fuel necessary to heat our homes, plastics used in our hospitals and asphalt t Just how much oil does Canada import every year? Download the map here. Join VC+ for 2023s Global Forecast Report of Expert Predictions. Sign up for updates about Canada's natural resource industries. Oil refineries across Canada and capacity in barrels per day (bpd; one barrel is about 159 litres): East Coast. 1. Sep 27, 2022, 11:52am EDT. There are 15 refineries in Canada, which are operated across most of the Canadian provinces. The North Atlantic Refinery in Newfoundland and Labrador is situated in Come By Chance, a municipality near the provincial capital of St. Johns. The refinery processes 268,000 barrels per day (bpd) of oil and produces 92,600 bpd of diesel fuel, 89,000 bpd of gasoline and 44,500 bpd of jet fuel. As an investor in oil . Vinci Construction Company, Address: United States Oil Refineries by State. This is the first phase of a project to provide greater transparency on the inputs and outputs of North America's refineries. The Syncrude project is owned by Canadian Oil Sands (37% CDN), Suncor (12% CDN), Mocal Energy (5% Japan), Murphy Oil (5% USA) Suncor (59% Canadian), Sinopec (9% China), Imperial Oil (7.5% CDN and 17.5% USA) and Nexen (7% China).Oil Sands Mining Operations. Monday, August 29, 2022 The U.S. Department of Energy has announced more than $540MM in awards for research into . All Canadians should appreciate and be grateful for the role that refineries have in our contemporary lifestyle and support the men and women who work hard in this industry everyday to make that happen! The mayor of Sarnia, a city in southern Ontario known as a petrochemical and refining hub, says there could be at least 5,000 job losses if Michigan is successful at shutting down the pipeline. It has been 43 years, in fact, since Marathon Petroleum opened its spanking-new 200,000 barrel of oil per day (bopd) refinery in Garyville, Louisiana in 1977. Canada Canada's 2.06Mbd refinery capacity in 2012 makes it the tenth biggest refiner in the world. Did you know that 4 of Ontarios oil refineries make up about 20 per cent of Canadas total refining capacity, and that about 80 per cent of their feedstock comes from the western part of the country? You can only download this statistic as a Premium user. Its output increased by 266,000 bpd from its 2020 level to reach 18,875,000. Quebec spent more than $5.5 billion on oil imports in 2019, all from the U.S. Atlantic Canada is home to just two refineries. 2022. ; Canada consumes 2.87 gallons of oil per capita every day (based on the 2016 population of 36,382,944 people), or 1,048 gallons per capita per year (25 barrels). The economic consequences of losing GDP output from refineries combined with the increased costs of importing petroleum products would take a serious toll on the wallets of all Newfoundland and Labradorians. MPLX LP. Then demand for oil dropped by 20 million bpd in the month of April or about 20% of the total, he added. 2020 by the numbers Alberta oil producers exit COVID-19 pandemic little scathed, Alberta adds refining capacity, as Newfoundland awaits fate of NARL, Suncor shelves Montreal coker project, in lieu of more barrels at Firebag, Alberta says yes to plastics, but no thanks to partial upgrading and oil refining, Imperial books a profit on its refining business, as upstream operations struggle to break-even, From upgrader to refinery to partial-upgrader: Value Creation hopes to revive Heartland Complex, Husky looks to sell BC refinery and exit the retail business, Alberta's NDP government takes another stab at boosting refining capacity, Discounts on Canadian crude finally start to narrow as Midwest refineries re-open for business, China offers support for new Edmonton refinery, Expanding Bruderheim and adding refining capacity - Cenovus hints at future growth plans, Husky purchases additional Midwest refining capacity and defers Canadian expansion, Chevron finds buyer for BC refinery and fuel distribution, A look at Canada's refining capacity and how we compare to the rest of the world, Vancouver's only refinery goes up for sale, Why Vancouver desperately needs a new oil refinery, Independent refiners benefit from low oil prices, 2019 CAPP CRUDE OIL FORECAST, MARKETS & TRANSPORTATION. The U.S. and Canada alone are home to more than 90,000 miles of crude oil and petroleum product pipelines, along with more than 140 refineries that can process around 20 million barrels of oil every day. Forecasts to 2032 and other analyses reveal the commercial prospects In addition to revenue forecasting to 2032, our new study provides you with recent results, growth rates, and market shares. The product mix, on the other hand, varies a lot between locations. Some of these refineries that shut down in 2020 "will become terminals, some of them will become renewable diesel or biofuel plants," Israel added. A Closer Look at the Best Oil Stocks to Invest in. Revenue: CA$30.867 billion. Along with these infrastructure improvements, pipeline developers and operators emphasize the lack of better alternatives, as freight and seaborne transportation are both far less efficient and result in more carbon emissions. In 2021, only 14 petroleum liquids pipeline projects were completed in the U.S., which was the lowest amount of new pipelines and expansions since 2013. As of January 1, 2021, there were 129 operable petroleum refineries in the United States. Pipelines are the primary method of transporting crude oil around the world, delivering oil and its derivative products swiftly to refineries and empowering reliant businesses. Approximately 6.7 million Americans work in the energy field. The Irving refinery is unique compared with other refineries because it is a family-owned operation with no crude oil production, and a refining and marketing arm. According to a report from Reuters, published in June of this year, the refining capacity across the US fell by 4.5% during 2020, the largest drop since the recession of 2012. Thats just not true. The U.S. and Canada alone are home to more than 90,000 miles of crude oil and petroleum product pipelines, along with more than 140 refineries that can process around 20 million barrels of oil every day. Chronis has more than 30 years of experience serving public and private . Learn more about Canadian oil sands' cost-effectiveness and potential as a long-term future energy supply source today! The broad-based S&P Goldman Sachs Commodity Index (GSCI) surged 52.1% in the first five months of 2022, as supply disruptions and fears across grains, metals, and energy fuels were spurred by Russias invasion of Ukraine. What are the key prospects for moving companies into a new growth path? Then you can access your favorite statistics via the star in the header. According to AAA, the average U.S. retail gasoline price is currently around $4.75 per gallon. Smartphones, computers, televisions, gasoline, motor vehicles, rubbers, plastics, refrigerators, heart valves, prescriptions, contact lenses, shampoo, toothpaste and hearing aids are just the tip of the iceberg of products derived using oil. United States oil refining. As a Premium user you get access to background information and details about the release of this statistic. Manitoba and Prince Edward Island as well as the territories did not have any refining capacity. Refineries play an incredibly important role in the lives of Canadians across the country. The refinery is designed to consist of five modules at a total of 1 million barrels per day. Here are some of the latest figures from the Canadian Fuels Association regarding the economic contribution of the refining industry: > $6.7 billion added to the economy by the refining sector Canada-wide, > $320 million amount of generated provincial and federal tax revenues, > 18,000 number of people employed directly or indirectly by the refining industry, > $300,000 value added to the economy for each worker employed by the sector, third place behind oil and gas extraction and mining and much higher than the national average of $77,000, > 1,600 number of suppliers in the supply chain supported by the refining industry, > $550 million value in feedstock for the chemical, plastic and rubber industries accounted for by refineries in Canada, Our family is a proud supporter of Canadian oil and gas.We teach our children how important this industry is and how #Canada is a world leader in #environmental protection. - Jodihttps://t.co/XhmJgP7ZPB pic.twitter.com/uvqYUYBgAb. Topping Oil Refinery This is a list of oil refineries. Over the past few years, more than 34 million barrels were shipped to buyers in China, India, South Korea, and Europe. The Jamnagar refinery is India's and the world's biggest oil refinery, producing 1.24 million barrels per day (bpd). Once construction is completed, the refinery is expected to have the ability to process light and heavy crude oil from North Dakota and Western Canada. *Includes only refineries with atmospheric crude oil distillation capacity. Global refining, which is vital for producing fuels like gasoline and diesel, decreased by 1.4 million barrels a day between 2019 and the first quarter of 2022, according to the International Energy Agency. What will be the main driver for the overall market from 2022 to 2032? How will the market shares of the national markets change by 2032 and which geographical region will lead the market in 2032? Oil and petroleum products explained Refining crude oil Top 10 U.S. refineries operable capacity* As of January 1, 2022 See full list of refineries Last updated: June 21, 2022, with most recent data available at the time of update. Show publisher information Together they have a total refining capacity of nearly 2 million barrels of oil a day. As of that year, the oil refinery capacity in. 5,913 miles. Source: S&P Global Since June 2019, 1.482 million barrels per day of refining capacity has been rationalized in the United States and Canada, of which about 590,000 barrels per day was damaged in storms or refinery incidents and is not eligible for quick restart, and 237,000 barrels per day is being converted to renewable diesel production. Vinci Construction Company, Since oil, natural gas and oil sands resources are located underground, it helps to reference the land when we talk about mineral ownership. Crude oil creates gasoline, jet fuel, diesel, asphalt, tar . Today, the largest pipeline network across the U.S. and Canada (with a diameter of at least 10 inches) is the 14,919 mile network managed by Plains, which spans from the northwestern tip of Alberta all the way down to the southern coasts of Texas and Louisiana. All Canadians should be able to support such an initiative that would benefit not only our national economy, but the global environment as well! Prospects for established firms and those seeking to enter the market including company profiles for 20 of the major companies involved in the Oil Refinery Market, 2022 to 2032 Market. Global Investors releases a visualization called the Periodic Table of Commodity Returns at the outset of each year. It is poured into the ship bunkers to keep the engines running. Those that remain are running at 94% capacity. What is driving and restraining the oil refinery market? 1 day U.S. Fuel Exports Broke Records In The First Half Of 2022. . I've often ondered about the lack of refineries in Canada, and why oil is shipped south for refining. WEEKLY NEWSLETTER SIGN-UPSign up for our weekly newsletter site updates, oil prices and whats moving oil markets, delivered to your inbox every weekend (see archive): Get access to our entire database of commodity prices, energy statistics and oil sands data. The payment will decline to zero if margins increase to $10.20 per barrel. Germany is spending over $60 billion to combat rising energy prices. Western Canadian Select (WCS) crude oil monthly price 2020-2022, Crude oil imports to Canada 2021, by region of origin, Revenue of leading Canadian oil and gas companies 2022, Global oil production 2010 & 2021, by select country. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. As a result, SCO blends typically sell at a price which is much closer to par with the WTI benchmark. Thermal coal prices faced similar regional divergences, with Powder River Basin (PRB) coal (Americas benchmark for coal) falling by 48.3% this year while Newcastle coal, which is delivered out of the port of Newcastle, Australia primarily to various Asian nations, saw prices skyrocket up by 156.6% in 2022. Brownfield, Refineries, Tie-Ins. There are four operating refineries in Alberta with a combined crude processing capacity of over 458,200 bbl/d. Pipelines in Canada: What You Need to Know, Principles, Privacy Policy & Terms of Use. Fort McMurrays facility is an upgrader, which differs from refineries as it upgrades heavy oils like bitumen into lighter synthetic crude oil which flows through pipelines more easily. 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Visualizing the History of Energy Transitions, Visualizing the Worlds Top 25 Fleets of Combat Tanks, The Benefits of Reducing Methane Emissions, The U.S. and China Account for Half the Worlds Household Wealth. 7 For All Mankind Dojo Bootcut Jeans, Refineries in Alberta and B.C. So, U.S. oil production has fallen under Biden. processed 61 per cent synthetic crude and 12 per cent bitumen, for example. U.S. refiners set for strong start to 2022 as fuel prices surge worldwide. Refinery Report. WASHINGTON, Jan 18 (Reuters) - U.S. oil refiners plan twice as many refinery overhauls this spring as usual, aiming to resume maintenance delayed by the pandemic and by the lure of record-high margins, according to data provider IIR Energy and Reuters reporting. Canada is home to 15 refineries, all of which are operated by Canadian Fuels members and represent the country's refining capacity. Oil refinery capacity Canada by region 2019 | Statista Try our corporate solution for free! Warm White Mini Led Lights, Published by N. Snnichsen , Feb 17, 2022 This statistic illustrates the average daily oil/petroleum refinery capacity of Canada in 2019, by province. Saskatchewan and Alberta also import lighter oils from the U.S. to use as a diluent in heavy crudes before shipping out via pipeline. Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising oil refinery prices and recent developments. Jim points out that there are 129 oil refineries in the U.S. Oil Refineries There are 17 refineries in Canada, and 5 are in Alberta. The Western Petroleum Association lists no recent closures in California. With gas prices surging past $5.00 a gallon, many Americans are wondering what is the problem. Here are the 10 countries with the most oil reserves: Venezuela - 303.8 Saudi Arabia - 297.5 Canada - 168.1 Iran - 157.8 Iraq - 145 Russia - 107.8 Kuwait - 101.5 United Arab Emirates - 97.8 United States - 68.8 Libya - 48.4 Oil Reserves by Country 2022 Show Sources Most of the refinery closures occurred in western countries, the data showed. There are 15 refineries in Canada, which are operated across most of the Canadian provinces. As a result of the war and ensuing sanctions, the discount of Urals crude oil compared to Brent crude oil went from -$1.72 at the start of 2022 all the way to -$30.71 by the end of the year. No viable alternatives to replace the lost supply of light oil and natural gas liquids that heat homes and businesses, fuel vehicles and power industry would be immediately available either. The pipeline began interim service on December 18, 2021 and went fully operational on January 1, 2022. The U.S. and Canada alone are home to more than 90,000 miles of crude oil and petroleum product pipelines, along with more than 140 . The Canadian company, one of the worlds largest oil companies, transports about 30% of the crude oil produced in North America. June 28, 2022. This will be the first major expansion to U.S. crude oil processing in about 10 years. The result? Are oil refineries running at full capacity 2022? And North America is a major oil hub. The development of new pipelines remains a contentious issue in Canada and the U.S., with the cancellation of the Keystone XL pipeline emblematic of growing anti-pipeline sentiment. Nike Air More Uptempo '96 Volt, The North West Redwater Partnership's bitumen refinery in Sturgeon County, Alberta, is currently licensed as an upgrader, but it operates as a refinery, producing refined petroleum products. Are you interested in testing our corporate solutions? But over the past five years, liquid pipeline incidents have fallen by 21% while pipeline mileage and barrels delivered have increased by more than 27%. 30:13. Canadas offshore oil production is shipped to buyers in Eastern Canada, the U.S., Asia and sometimes Europe. Four COVID-19 recovery patterns and their impact, namely, V, L, W and U are discussed in this report. Given that raw materials can account for up to 70% of a companys expenses, variations in raw material input costs must be taken into account. Many refineries had no option but to idle, he said. In a recent interview with Fox Business, American Petroleum Institute President Mike Sommers stated that 11 US gas refineries closed over the past two years. How is the oil refinery market evolving? Currently, you are using a shared account. Bitumen mined from heavy oil operations is too viscous (thick) to be pumped to buyers in North America, therefore diluents are required to allow it to flow more easily within pipelines such as Keystone, Trans Mountain and Enbridges Mainline. Learn more about the importance of having responsible and reliable supply chains and why it matters for all Canadians! If President Joe Biden came out forcefully on . Where is the oil refinery market heading? Raw Material Price Volatility And Rapidly Depleting Crude Oil Refined petroleum products, chemicals and chemical products, coke, and intermediate goods were among the industries that were heavily impacted. There are about 130 oil refineries in the U.S. and most are pretty old; the newest one that can handle over 100,000 barrels a day was built in 1977. Are you interested in testing our corporate solutions? Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________, https://www.reportlinker.com/p06267773/?utm_source=GNW, Oil down 1% on another surprise build in U.S. crude stocks, Dollar rises on safe haven bids; yen regains footing, FOREX-Dollar rises on safe haven bids; yen regains footing, New Zealand Prime Minister Ardern Announces Shock Resignation. While WTI crude oil (North Americas benchmark) increased by 6.7% in 2022, Brent crude oil (Europes benchmark) was up 10.4% as Urals crude oil (Russias benchmark) fell by more than 26.5%. There are three obvious reasons for this reality: the first is that these are two states who. In the last seven months of the year the S&P GSCI nearly completed a return trip and only ended up rising 8.7% in 2022 overall. After such a wild year with huge variance in commodity prices, well see if 2023 can bring some stability or if high volatility and growing regional price discrepancies will become the norm. Western Canadian output will grow annually by about 150,000 bbl/day. Global Oil Refinery Market (COVID Impact Analysis) by Investment CAPEX OPEX Global Oil Refinery Market (COVID Impact Analysis) by Processing Unit Crude Oil Distillation Unit (CDU) Vacuum Distillation Unit (VDU) Diesel Hydrotreating Unit (DHT) Semi-regenerative Reforming (SRR) Fluid Catalytic Cracking Unit (FCC) Sulfur Recovery Unit (SRU) Global Oil Refinery Market (COVID Impact Analysis) by Type Topping Oil Refinery Hydro-skimming Oil Refinery Conversion Oil Refineries Deep Conversion Refineries In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for 4 regional and 20 leading national markets: North America Oil Refinery Market, 2022 to 2032 Market Outlook U.S. Oil Refinery Market, 2022 to 2032 Market Forecast & COVID Impact Analysis Canada Oil Refinery Market, 2022 to 2032 Market Forecast & COVID Impact Analysis Mexico Oil Refinery Market, 2022 to 2032 Market Forecast & COVID Impact Analysis Europe Oil Refinery Market, 2022 to 2032 Market Outlook Russia Oil Refinery Market, 2022 to 2032 Market Forecast & COVID Impact Analysis Norway Oil Refinery Market, 2022 to 2032 Market Forecast & COVID Impact Analysis United Kingdom Oil Refinery Market, 2022 to 2032 Market Forecast & COVID Impact Analysis Demark Oil Refinery Market, 2022 to 2032 Market Forecast & COVID Impact Analysis Italy Oil Refinery Market, 2022 to 2032 Market Forecast & COVID Impact Analysis Rest of Europe Market Forecast & COVID Impact Analysis Asia Pacific Oil Refinery Market, 2022 to 2032 Market Outlook China Oil Refinery Market, 2022 to 2032 Market Forecast & COVID Impact Analysis Indonesia Oil Refinery Market, 2022 to 2032 Market Forecast & COVID Impact Analysis India Oil Refinery Market, 2022 to 2032 Market Forecast & COVID Impact Analysis Australia Oil Refinery Market, 2022 to 2032 Market Forecast & COVID Impact Analysis Malaysia Oil Refinery Market, 2022 to 2032 Market Forecast & COVID Impact Analysis Rest of Asia Pacific Market Forecast & COVID Impact Analysis LAMEA Oil Refinery Market, 2022 to 2032 Market Outlook Brazil Oil Refinery Market, 2022 to 2032 Market Forecast & COVID Impact Analysis Iran Oil Refinery Market, 2022 to 2032 Market Forecast & COVID Impact Analysis Saudi Arabia Oil Refinery Market, 2022 to 2032 Market Forecast & COVID Impact Analysis South Africa Oil Refinery Market, 2022 to 2032 Market Forecast & COVID Impact Analysis Iraq Oil Refinery Market, 2022 to 2032 Market Forecast & COVID Impact Analysis Rest of Latin America, Middle East and Africa The report also includes profiles and for some of the leading companies in the Oil Refinery Market, 2022 to 2032, with a focus on this segment of these companies operations. Howe Institute sheds light on the myth that Canada's oil sands are "high cost" and "too expensive" to produce, making them obsolete in a future where fossil fuels are expected to be used less. What can be the best investment options for new product and service lines? The water and wastewater treatment market is expected to grow at a CAGR of 5.4% by value from 2022 to reach USD 956,481.2 million by 2032 from an estimated USD 565,514.4 million in 2022. The Irving Refinery According to the Canadian Fuels Association, significant shortages of feedstock for refineries in Ontario and Quebec would ensue. Domestic sales of petroleum products accounted for 1.8 million barrels per day that same year, with consumption by category as follows: Refineries in Canada get most of their input oil from domestic production. In summary, our 550+ page report provides you with the following knowledge: Revenue forecasts to 2032 for Oil Refinery Market, 2022 to 2032 Market, with forecasts for each forecasted at a global and regional level discover the industrys prospects, finding the most lucrative places for investments and revenues Revenue forecasts to 2032 for 4 regional and 20 key national markets See forecasts for the Oil Refinery Market, 2022 to 2032 market in North America, Europe, Asia-Pacific and LAMEA. The country accounted for about 2.2% of the world's total refinery capacity per day during the same year. Together they have a total refining capacity of nearly 2 million barrels of oil a day. To grasp a nearly immediate appreciation for refineries, just think about going for a year in life without all the listed products above. Materials suppliers are struggling to make a profit, while tier suppliers and OEMs are stuck between raising prices and experiencing cost hikes. In the meantime,robust demand for EVs in Chinahas provided a constant need for these battery metals which are currently in short supply. In 1982 there were over 250 operating crude oil refineries in the United States; that number declined to 132 by 2019, according to data from the US Department of Energy (DOE). 4 min read. C-suite? Profile : LENCO is a team of highly dedicated lubrication specialist providing superior high performance lubrication products and services to a wide range of applications Designed to . Trans Mountain and rail are the primary export conduits to these regions of the U.S. Canadian oil is also shipped to other international buyers through the Port of Vancouver and U.S. Gulf Coast. Location : Warehouse: Jebel Ali Free Zone, Dubai, UAE. US Oil, Gas & Chemicals Leader achronis@deloitte.com +1 713 982 4315 Amy Chronis is vice chair, the US Oil, Gas & Chemicals (OG&C) leader, and the managing partner for Deloitte's Houston practice. What is the Economic Contribution of Refineries in Ontario? torrent young xxx. Tens of billions of dollars in economic activity would also be lost. The map also aspires to show the fast growing renewable energy power (wind, solar and hydro) locations colored in yellow. 2. The Irving refinery is unique compared with other refineries because it is a family-owned operation with no crude oil production, and a refining and marketing arm. "Oil refinery capacity in Canada from 2004 to 2021 (in 1,000 barrels per day)." Growing Demand For Petroleum Products The product demand in each region has an impact on refinery configuration as well. That's a record high and 45% above last year's level. As a result of several U.S. refinery closures in 2020, U.S. operable atmospheric crude oil distillation capacity, the primary measure of refinery capacity in the United States, dropped 4.5% to a total of 18.1 million barrels per calendar day (b/cd) at the start of 2021. In 2019, U.S. oil production hit a record high of 12.3 million barrels per day. A catalytic cracking unit was added in 1951 to produce gasoline out of low-value petroleum and the first heavy-oil upgrader in Canada came on stream in 1988. In recent years, this refinery has relied entirely on oil tankers from the U.S. for its feedstock supply. In 2020, Canada reduced its reliance on imports, especially non-U.S. imports. You need a Statista Account for unlimited access. February 22, 2022 7 Min Read H Today, Valero has 15 refineries in the U.S., . Canada has 18 refineries located in eight provinces. Will leading oil refinery markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others? Businesses and industries who rely on domestic refinery production would feel the ripple effect immediately. updated: sep 14, 2022: site map: projects / refineries : notes: 1 asphalt refinery (formerly owned by husky energy) 2 lubricants plant 3 purchased from chevron in q3/2017 4 excludes clarkson lubes refinery 5 purchased from husky in nov 2019 6 heavy oil splitter, producing specialty market refined products 7 regulated as upgrader. By now you at least know that the first of these statements is not true, and if you arent sure about the second, just hold tight. Since 2010, U.S. crude oil production has more than doubled from 5.4 million barrels a day to more than 11.5 million. 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