SU Jul 2024 42.000 put
- Reuters
Suncor Energy beats first quarter profit estimates on refined products demand
Demand for refined products remained high in the quarter as outages at Russian refineries following Ukrainian attacks and heavy refinery turnaround tightened fuel supplies to global markets. Earnings were also helped by growing demand for oil in the U.S., the biggest importer of Canadian oil, which rose more than the forecast in February according to data from the U.S. Energy Information Administration, helping oil producers like Suncor Energy. Canada's second-biggest oil producer said total upstream production was up at 835,300 bpd in the quarter, up 12.6% from a year earlier.
- The Canadian Press
Suncor earns $1.6B in first quarter, breaks all-time oilsands production record
CALGARY — Suncor Energy Inc. says it earned $1.61 billion in the first three months of 2024, down from $2.05 billion a year earlier. The Calgary-based energy giant says its first-quarter earnings amount to $1.25 per common share, compared with $1.54 in the first quarter of 2023. On an adjusted basis, Suncor says its operating earnings of $1.82 billion in the first quarter of 2024 were comparable to $1.81 billion in the prior year's quarter. The company attributed its results primarily to higher
- Reuters
UPDATE 2-Suncor Energy beats first quarter profit estimates on refined products demand
Canada's Suncor Energy beat first-quarter profit estimates on Tuesday as the integrated oil and gas firm benefited from demand for refined products and higher oil production. Demand for refined products remained high in the quarter as outages at Russian refineries following Ukrainian attacks and heavy refinery turnaround tightened fuel supplies to global markets. Earnings were also helped by growing demand for oil in the U.S., the biggest importer of Canadian oil, which rose more than the forecast in February according to data from the U.S. Energy Information Administration, helping oil producers like Suncor Energy.
