Suncor today advised that it will record in the fourth quarter of 2020 a non-cash after-tax impairment charge of approximately $425 million on its share of the White Rose asset and West White Rose Project. While the asset is currently producing, the West White Rose Project was intended to access 200 million barrels of crude oil and extend the life [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
