Suncor released its 2021 corporate guidance today which reflects its capital allocation framework and includes: average upstream production of 740,000 to 780,000 barrels of oil equivalent per day ; expected debt repayment in 2021 of between $500 million and $1.0 billion; a capital program of between $3.8 and $4.5 billion ; and $500 million share repurchase program for the fiscal year 2021. “The decisions we made this year [...]
Suncor, as 58.74% owner of the Syncrude Joint Venture, announced today that it, together with the other Syncrude joint venture owners – Imperial Oil Resources Limited, CNOOC Oil Sands Canada and Sinopec Oil Sands Partnership – have agreed in principle for Suncor to become the operator of the Syncrude project by the end of 2021. The agreement still requires formal approval from each of the owners. “This presents a [...]
Petro-Canada, a Suncor business, today announced the creation of the Petro-Canada CareMakers Foundation, which will support family caregivers across Canada. Through the CareMakers Foundation, Suncor plans to invest $10 million over the next five years to bring awareness and support to the essential work of caregivers, a group that according to Statistics Canada includes more than 8 million Canadians. The CareMakers [...]
Suncor Energy’s Board of Directors has approved a quarterly dividend of $0.21 per share on its common shares, payable December 24, 2020 to shareholders of record at the close of business on December 3, 2020. Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development and upgrading, offshore oil and gas production, petroleum refining, and product marketing under the [...]
Suncor today announced the appointment of Jean Paul Gladu to the company’s Board of Directors. Mr. Gladu’s appointment is effective Nov. 17, 2020. “I’m pleased that JP is joining Suncor’s Board of Directors,” said Board Chair Michael Wilson. “For more than 25 years, JP has worked to build relationships among Canada’s natural resource sectors and Indigenous communities and organizations, and environmental non-government [...]
Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars , and have been prepared in accordance with International Financial Reporting Standards, specifically International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working-interest basis, before royalties, except for production [...]
Suncor will release its third quarter financial results on October 28, 2020 before 8:00 p.m. MT . A webcast to review the third quarter will be held on October 29 at 7:30 a.m. MT . Representing management will be Mark Little, president and chief executive officer and Alister Cowan, chief financial officer. A question and answer period with analysts will follow brief remarks from management. Trevor Bell, vice president [...]
Suncor today announced it has been re-certified at gold-level in the Progressive Aboriginal Relations program from the Canadian Council for Aboriginal Business . The award was presented at the CCAB’s virtual Business Recovery Forum, where Suncor was recognized for its continued commitment to collaboration with Indigenous Peoples in Canada. “We are committed to learn about our shared history and seek collaboration and [...]
Following the August 14 incident at its Base Plant operations, in light of identified performance improvement opportunities at its Firebag operation, and bringing on the second train of production at Fort Hills, Suncor is today providing an operational update and revised 2020 guidance. On August 16, 2020, Suncor reported it had experienced a fire at the secondary extraction facilities of its Base Plant mine. On August [...]
Suncor today provided an update on the Base Plant mining operations following an incident which occurred on August 14, 2020. At approximately 7 p.m. MT on August 14, a fire occurred in the secondary extraction area of the Base Plant mining operations impacting mined bitumen production. The fire was contained quickly and extinguished some hours later. All personnel in the immediate and surrounding areas were safely [...]
Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars , and have been prepared in accordance with International Financial Reporting Standards, specifically International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working-interest basis, before royalties, except for Libya, which are [...]
Suncor Energy’s Board of Directors has approved a quarterly dividend of $0.21 per share on its common shares, payable September 25, 2020 to shareholders of record at the close of business on September 4, 2020. Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development and upgrading, offshore oil and gas production, petroleum refining, and product marketing under the [...]
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